Sun Pharma Advanced Research Company fell 1.21% to Rs 146.50 at 10:01 IST on BSE after the company received a demand order worth Rs 46.04 crore for payment of Service Tax.
The announcement was made after market hours yesterday, 7 February 2019.Meanwhile, the S&P BSE Sensex was down 196.75 points or 0.53% at 36,774.34.
On the BSE, 73,000 shares were traded on the counter so far as against the average daily volumes of 1.38 lakh shares in the past two weeks. The stock had hit a high of Rs 147.60 and a low of Rs 143.35 so far during the day.
Sun Pharma Advanced Research Company (SPARC) said it is receipt of an 'Order' from the Office of the Commissioner of GST & Central Excise, Mumbai East Commissionerate, demanding the payment of Service Tax along with penalty aggregating to Rs 46.04 crore along with interest under section 75 of the Finance Act, 1994. The company would contest the demand and would be filing an appropriate appeal against the Order within the stipulated period.
Sun Pharma Advanced Research Company (SPARC) is a clinical stage bio-pharmaceutical company focused on continuously improving standards of care for patients globally, through innovation in therapeutics and delivery.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app