Mumbai, February 28, 2025 – Alkem Laboratories Limited has announced that it has received an order from the Joint Commissioner, CGST & Central Excise, Mumbai, demanding ₹62.08 crore in Goods and Services Tax (GST) for the financial years 2020-2021 and 2021-2022.
Key Details of the GST Demand Order:
- Nature of Demand: The order alleges that Alkem discharged its GST liability under CGST and SGST instead of IGST.
- Financial Impact: The company has clarified that there is no material impact on its financials or operations, as it has sufficient Input Tax Credit (ITC), ensuring no cash outflow.
- Response: Alkem has stated that it does not agree with the demand and intends to contest the order through appropriate legal means.