Full Press Release Details
National Stock Exchange of India Ltd. (Scrip Code:
BSE Limited (Scrip Code: 500124)
New York Stock Exchange Inc. (Stock Code: RDY)
NSE IFSC Ltd. (Stock Code: DRREDDY)
This is to inform that the Company has received an
order from GST Authority towards tax demand including interest and levying penalty. The details as required under Regulation 30 of SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015 are as hereunder:
| S.No. | Name of the authority | : | Joint Commissioner of Central Tax, Hyderabad Commissionerate, Hyderabad. |
| 1 | Nature and details of the action(s) taken, or order(s) passed | : | The Company has received order seeking demand including interest and levying penalty under Finance Act, 1994. |
| 2 | Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority | : | Order dated February 07, 2025, was received by the Company on February 12, 2025. |
| 3 | Details of the violation(s)/ contravention(s) committed or alleged to be committed | : | The authority has passed the order on the ground that the Company has availed irregular Cenvat Credit of Service Tax. |
| 4 | Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible | : | The above order levies a penalty of Rs. 1,80,82,606/-. Based on our evaluation, there is no material impact on the financials, operations, or other activities of the Company. |
The Company will evaluate filing necessary appeal
with the appellate authority in this regard.
This is for your information and records.
For Dr. Reddy's Laboratories Limited
Company Secretary, Compliance Officer & Head-CSR