Mumbai, February 28, 2025: JB Chemicals & Pharmaceuticals Ltd. (NSE: JBCHEPHARM) announced today it has received an order from the Assistant Commissioner of State Tax, Maharashtra, imposing a tax demand of approximately ₹84 lakhs due to an alleged mismatch in input tax credit (ITC) availed during the Financial Year 2020-21.
Key Details of the Tax Demand Order
| Particulars | Details |
|---|---|
| Issuing Authority | Assistant Commissioner of State Tax, Maharashtra |
| Nature of Action | Tax Demand Notice |
| Amount Demanded | Approximately ₹84 lakhs |
| Allegation | Mismatch in input tax credit availed |
| Financial Year | 2020-21 |
| Date of Order | February 27, 2025 |
Impact Analysis & Management Commentary
The management clarified that the order would have no material impact on the company’s financials, operations, or other business activities. The company believes it holds a strong case based on merit and plans to appeal against the order.In an official statement, JB Chemicals & Pharmaceuticals Ltd. stated:
Strategic Outlook & Market Positioning
The order and subsequent appeal are not expected to impact investor sentiment significantly, as the management has clearly indicated confidence in successfully contesting the tax demand. Investors and stakeholders will be closely observing developments concerning the appeal.The stock performance of JB Chemicals & Pharmaceuticals Ltd. (NSE: JBCHEPHARM) remains under investor scrutiny, given the ongoing regulatory landscape and tax compliance environment within the pharmaceutical sector in India.