SPARC gets GST notice for ₹46.04 crore

Sun Pharma Advanced Research Company (SPARC) has received an order from the Office of the Commissioner of GST & Central Excise demanding payment of service tax along with penalty and interest aggregating to ₹46.04 crore. However, the company will contest the demand and file an appeal against the order within the stipulated time, it said in a notice to the stock exchanges. Shareholders of SPARC will closely monitor the development.