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Emcure Pharmaceuticals Ltd
said on Thursday that the Maharashtra Goods and Services Tax Department conducted a search and seizure operation at its offices in Mumbai this week.
The inspection, carried out by the Assistant Commissioner of State Tax (D-0214), Investigation-B, began at 12:15 p.m. on Nov 24 and concluded at 5 p.m. on Nov 26, the drugmaker said in a stock exchange filing.
The operation was conducted under Section 67 of the Maharashtra GST Act, 2017, which empowers authorities to search premises and seize documents in cases of suspected tax evasion or irregularities. Emcure said it has submitted all documents and clarifications requested by the officials and added that no adverse findings or formal communications have been issued so far.
“There is no material impact on the company’s financials, operations or other activities due to the inspection,” the company said.
Emcure, best known for its antiviral, gynaecology and cardiovascular portfolio, said it continues to cooperate fully with the authorities and will provide additional information if required.
The inspection, carried out by the Assistant Commissioner of State Tax (D-0214), Investigation-B, began at 12:15 p.m. on Nov 24 and concluded at 5 p.m. on Nov 26, the drugmaker said in a stock exchange filing.
The operation was conducted under Section 67 of the Maharashtra GST Act, 2017, which empowers authorities to search premises and seize documents in cases of suspected tax evasion or irregularities. Emcure said it has submitted all documents and clarifications requested by the officials and added that no adverse findings or formal communications have been issued so far.
“There is no material impact on the company’s financials, operations or other activities due to the inspection,” the company said.
Emcure, best known for its antiviral, gynaecology and cardiovascular portfolio, said it continues to cooperate fully with the authorities and will provide additional information if required.
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