Zydus Wellness arm gets Rs 56.33 cr GST demand over Heinz IP rights deal

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Zydus Wellness Products Ltd (ZWPL), a wholly-owned subsidiary company, has received an intimation from the Directorate General of Goods and Services Tax Intelligence, Surat Zonal Unit, alleging GST demand of Rs 56.33 crore, along with applicable interest and penalty, Zydus Wellness Ltd said in a regulatory filing.

Zydus Wellness Ltd on Saturday said its wholly-owned arm has received a GST demand of Rs 56.33 crore, along with applicable interest and penalty from the tax authority.

The intimation alleges that the GST was payable in relation to the acquisition of intellectual property rights from Heinz Italia S.P.A.by Heinz India Pvt Ltd, now merged with ZWPL, it added.

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Category: BusinessFinance

Markets: India

Topics: Zydus Wellness Heinz India Goods and service tax Pharmaceutical

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Article Type: News Report

Published On: 2024-12-28 @ 14:05:21 (17 hours ago)

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News Source URL: business-standard.com

Language: English

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