Piramal GST Demand Slashed to ₹92 Million From ₹15.02 Billion

Piramal Enterprises Ltd. said the GST Appellate Authority reduced its total tax demand to ₹92.2 million from ₹15.02 billion, affirming that the company complied with GST regulations.

 

The original demand stemmed from the ₹44.87 billion slump sale of its pharmaceuticals business in 2020–21. The tax department had earlier applied 18% GST on the full transaction, including exempt investments.

 

The ₹15 billion demand had included ₹8.37 billion in tax, ₹5.81 billion in interest, and a penalty of ₹837 million.