Sanofi India Limited (NSE: SANOFI, BSE: 500674) – Disclosure of GST Show‑Cause Notice

Date of announcement: 31 August 2026

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Introduction

Sanofi India Limited has filed a Regulation 30 disclosure with both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) to inform shareholders that it has received a Show‑Cause Notice from the GST authorities concerning its tax filings for the financial year 2020‑21.

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Key Points of the Disclosure

1. Nature of the communication

• Type: Show‑Cause Notice issued under Section 74 of the Central Goods & Services Tax (CGST) Act, 2017.
• Date of notice: 28 August 2026 (downloaded on 31 August 2026).
• Authority: Additional Commissioner of CGST and CX, Mumbai East.

2. Allegation

• The GST authority alleges that Sanofi India Limited mis‑classified certain products at the concessional GST rate of 5 % instead of the applicable 12 % for FY 2020‑21.

3. Proposed tax liability & penalty

• Tax liability: ₹ 36,38,70,979.
• Penalty: ₹ 36,38,70,979 (equal to the tax amount).

4. Expected financial impact

• The company, after consulting its tax advisors, does not anticipate any adverse impact on its financial statements, operations, or other activities arising from the notice.
• No definitive amount has been recorded as a liability pending the outcome of the dispute.

5. Company’s next steps

• Sanofi India Limited is examining the notice and will submit a reply within the prescribed time frame.
• The company will keep the market informed of any material developments.

6. Regulatory compliance

• The disclosure satisfies Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, along with the relevant SEBI Master Circular and Industry Standards.
• The full annexure (Annexure‑I) is attached to the filing and also posted on the company’s website.

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Summary

Sanofi India Limited has been served a GST Show‑Cause Notice alleging mis‑classification of product tax rates for FY 2020‑21, with a proposed tax demand and penalty of ₹ 36.39 crore each. The company is actively responding and, based on current assessments, does not expect the matter to affect its financial performance or operations. The disclosure complies with SEBI’s Regulation 30 requirements, and further updates will be provided as the case progresses.