Mumbai, February 11, 2025 – GlaxoSmithKline Pharmaceuticals Limited (NSE: GSKPHARMA) has disclosed that it has received an order from the Additional Commissioner Adjudication, Delhi-North, raising a tax demand amounting to ₹2,19,72,072. The order, dated February 4, 2025, pertains to the period between July 2017 and March 2018.
Key Details of the Tax Demand
| Particulars | Details |
|---|---|
| Authority | Additional Commissioner Adjudication, Delhi-North |
| Nature of Action | Disallowance of transitional credit (TRAN 1 & TRAN 2 credit) |
| Breakdown of Demand | ₹1,09,86,036 (Tax) + ₹1,09,86,036 (Penalty); Interest yet to be quantified |
| Order Date | February 4, 2025 |
| Receipt of Order | February 10, 2025 |
| Financial Impact | No impact on financial operations |
Company’s Response
GSK Pharmaceuticals has clarified that there will be no financial impact on its operations due to this demand. The company is currently evaluating the order and plans to take appropriate action in due course.Regulatory Compliance & Next Steps
The disclosure was made under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. While the company has yet to indicate whether it will contest the demand, it remains in compliance with regulatory reporting requirements.For further updates, investors will have to wait for the company’s next course of action regarding the tax demand.