Sai Life Sciences Faces IGST Demand of Rs 16.28 Crore Over Alleged Excess ITC Claim:

Sai Life Sciences Faces IGST Demand of Rs 16.28 Crore Over Alleged Excess ITC Claim Sai Life Sciences Limited, a leading global Contract Research, Development, and Manufacturing Organisation, has recently issued a disclosure to NSE Ltd and BSE Ltd regarding receipt of a demand order.

Background

The company informed that the joint commissioner of commercial Taxes (Appeals) passed an order under section 107(11) of the Goods and Services Tax Act, 2017, with a demand of IGST amounting to Rs 16,28,46,397 along with interest and penalty.

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Details of the violation

The Company has stated that the demand has been raised by the concerned authority, alleging excess availment of Input Tax Credit (ITC) in GSTR-3B over and above the amount reflected in GSTR-2A for FY 2021-22.

Key details

Particulars	Details
Company	Sai Life Sciences Limited
Issuing Authority	Joint Commissioner of Commercial Taxes (Appeals), Kalaburagi.
Tax Demand	Rs 16,28,46,397
Interest	Rs 13,31,50,353
Penalty	Rs 32,569,279
Date of receipt	April 29, 2026

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Company's Further Step

The company said it will appeal the decision and hopes to get a positive result from the Tribunal.

Financial Impact

The company also believes that the order will not have any significant financial impact on the company.

Company's Disclosure

The company made the above disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.