Sanofi India Limited announced that the State Tax Officer (Kerala), State Goods and Service Tax Department, has accepted the company's application under the Amnesty Scheme for the Financial Year 2018-19.
The application's acceptance includes a waiver of a penalty amounting to ₹99.85 lakhs.
The penalty was initially determined under section 73(9) of the CGST/SGST Act read with section 20 of the IGST Act 2017, related to violations including Proviso to Section 122[1][xiv] of the CGST Act 2017, violation of Rule 46[b] and 138, and contravention of section 131 of CGST ACT of the CGST/ KSGST Act,2017.
The original Demand Cum Recovery Notice had levied a penalty of ₹99.85 lakhs for the Financial Year 2018-19.
The company does not anticipate any material impact on its financial or operational activities due to this waiver.