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Syncom Formulation (India) Ltd. ( (IN:SYNCOMF) ) has provided an update.
Syncom Formulations (India) Ltd. has disclosed that the GST Department’s Office of the Superintendent, Range-V, Division X, Mumbai-East, has rejected its earlier appeal and issued a revised demand and penalty notice under Sections 74(5) and 122 of the CGST Act, 2017, relating to alleged ineligible input tax credit on certain input services and blocked credits. The order, received on 2 January 2026, calls for payment of Rs 70.89 lakh towards ineligible input tax credit and an equivalent amount as penalty, aggregating to about Rs 1.42 crore, which the company says must be paid by 31 January 2026 even as it plans to pursue a further appeal before the relevant authority, indicating a potential near-term financial outflow but also signalling its commitment to legal recourse and regulatory compliance.
More about Syncom Formulation (India) Ltd.
Syncom Formulations (India) Ltd. is an Indian pharmaceutical formulations company engaged in manufacturing and marketing a range of medicines, with its shares listed on both BSE and NSE under the symbols 524470 and SYNCOMF, respectively.
Average Trading Volume: 154,220
Technical Sentiment Signal: Hold
Current Market Cap: 13.41B INR
For detailed information about SYNCOMF stock, go to TipRanks’ Stock Analysis page.