Cipla Ltd has been fined Rs 1.83 crore by the GST authority for claiming inadmissible transitional credit on education cess. The penalty, imposed by the Principal Commissioner of CGST & Central Excise, Mumbai, Maharashtra, amounts to Rs 183,17,388 under the Central Goods and Services Tax Act, 2017, and Maharashtra Goods and Services Tax Act, 2017. Cipla plans to appeal the decision, stating that it will assess facts and prevailing law. The penalty does not significantly affect the company’s financials or operations.
Cipla Penalized for Inadmissible Transitional Credit
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