Mumbai, February 3, 2025 –
Alkem Laboratories Limited (NSE: ALKEM, BSE: 539523) has disclosed that it has received an order from the Assistant Commissioner of State Tax, Unit 55, Range 14, Bharuch, under the Goods and Services Tax (GST) Act, 2017. The company intends to challenge the order through appropriate legal means.
Key Details of the Order
| Particulars | Details |
|---|
| Issuing Authority | Assistant Commissioner of State Tax, Unit 55, Range 14, Bharuch – 392001 |
| Nature of Order | GST demand for FY 2020-21 amounting to ₹97,188, with an interest of ₹89,772 and a penalty of ₹40,000 under IGST, CGST, and SGST Acts, 2017 |
| Date of Receipt | February 1, 2025 |
| Alleged Violation | Excess availment of GST Input Tax Credit |
| Company’s Response | Alkem Laboratories disagrees with the order and will contest it |
| Financial Impact | No material impact on the company’s financials or operations |
Company’s Stand
In a regulatory filing, Alkem Laboratories emphasized that while the order alleges excess GST Input Tax Credit availment, the company disagrees with the findings and is preparing to contest the demand. The firm assured stakeholders that there would be no material financial or operational impact as a result of the order.
Outlook
Alkem Laboratories remains focused on resolving the matter through due legal process while maintaining its commitment to compliance. Investors and stakeholders will be closely monitoring further developments on this front.
