Torrent Pharmaceuticals Limited Receives Order Passed by Deputy Commissioner of State Tax, Ropar Division, Punjab Imposing Penalty
April 19, 2024 at 06:33 am EDT
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Torrent Pharmaceuticals Limited announced that an Order dated 18 April, 2024 was passed by Deputy Commissioner of State Tax, Ropar Division, Punjab, under Section 73 of the Goods and Service Act, 2017, imposing a penalty of appx. INR 152,356. The Order alleges wrongful claim of Input Tax Credit (ITC) of GST by Torrent Pharmaceuticals Ltd. registered in for Punjab Location vide GSTIN No.03AAACT5456A1ZV for tax period Apr-18 to Mar-19.
Torrent Pharmaceuticals Limited is an India-based pharmaceutical company. The Company is focused on various therapeutic segments, such as cardiovascular (CV), central nervous system (CNS), gastrointestinal (GI), vitamins minerals nutrients (VMN), anti-diabetes (AD), pain, gynecology, and dermatology. The Company is engaged in research, development, manufacturing, marketing and distribution of branded and generic pharmaceutical formulations in India and internationally. Its pediatric product brands include Tedibar, Atogla, Spoo and B4 Nappi. Its acne/facecare products brands include Clinmiskin, ACNEMOIST, TRACNILO and fash. The Company's hair/scalp care products brands include Proanagen, Perlice, Permite and NOSKURF. Its manufacturing facilities are located in the states of Gujarat, Himachal Pradesh, Madhya Pradesh, Andhra Pradesh and Sikkim. The Company's primary channel of distribution is through the wholesale drug distributors, stockiest and retail pharmacies.
TORRENT PHARMACEUTICALS LIMITED 
