Neuland Laboratories Limited announced a penalty of INR 0.081 million has been imposed on the Company by Joint Commissioner (ST), Punjagutta Division, Hyderabad Commercial Taxes Department, Government of Telangana. Period Involved: April 1, 2018 to March 31, 2019. Nature and details of the order(s) passed: Order under Section 73 TGST Act for Tax of INR 8,19,148 and penalty of INR 81,914 aggregating to a demand of INR 9,01,062.

Date of receipt of direction or order, including any ad interim or interim orders, or any other communication from the authority: May 2, 2024. Details of the violation(s)/contravention(s)committed or alleged to be committed: Under declaration of Ineligible Input Tax Credit. Input Tax Credit claim from cancelled dealers, return defaulters and tax non-payers.