Mumbai, March 1, 2025 – Alkem Laboratories Limited has disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that it has received an order from the Superintendent, CGST Range-XXXV, CGST Division-G, Jaipur, under the Goods and Services Tax (GST) Act, 2017.
Details of the Order:
- Authority Involved: Superintendent, CGST Range-XXXV, CGST Division-G, Jaipur.
- Financial Year Concerned: 2020-2021.
- Demand Details: The order demands a GST payment of ₹18,44,827, along with an additional penalty of ₹1,84,482 and applicable interest.
- Alleged Violation: Excess availment of Input Tax Credit (ITC) and denial of reduction in GST liability on credit notes.
- Date of Order Receipt: February 28, 2025.
Company’s Response and Financial Impact
Alkem Laboratories has stated that it does not agree with the demand order and is in the process of taking appropriate actions, including filing an appeal against the decision. The company has also confirmed that there is no material financial or operational impact arising from this regulatory action.Outlook and Next Steps
While the company intends to contest the order, investors will be closely monitoring further developments regarding the appeal process. Given that the impact has been deemed immaterial, Alkem’s financial stability and business operations remain unaffected.For more updates on regulatory developments and financial disclosures, stay tuned.