Indoco Remedies Cleared of ₹15.51 Crore GST Demand as Proceedings Dropped

Indoco Remedies Ltd announced on February 10, 2025, that the GST Authority dropped proceedings against a ₹15.51 crore tax demand linked to a 2024 show-cause notice. The resolution follows multiple GST-related notices in 2024, including a June 2024 demand of ₹15.51 crore for alleged liabilities. The company’s Q3 FY25 revenues declined to ₹364.9 crore amid supply disruptions, though domestic formulations grew marginally. Analysts note reduced financial strain post-resolution, with shares trading at ₹265.50 (-5.62%) on BSE.

 

Sources: Business Standard, NDTV Profit, Indoco Remedies Exchange Filings