Gland Pharma receives GST order for ₹6.3 Cr tax demand, interest, and penalty
Gland Pharma received a GST order for a tax demand of ₹5.03 Cr, ₹1.25 Cr penalty, and interest for FY 2019-20. The total disputed amount is ₹6.29 Cr. The company believes the demand is unjustified and will file an appeal, expecting no material financial impact.
While the company states there is no material impact, the disputed amount of ₹6.29 Cr is significant, and the outcome of the appeal could potentially affect the company. Therefore, the impact is considered medium.
The company has received a tax demand and penalty, which is a negative event. However, they believe the demand is unjustified and plan to appeal, stating no material impact on financials, which mitigates the negative sentiment.
Gland Pharma Limited has announced that it has received an order from the GST Authority concerning a tax demand, interest, and penalty for the Financial Year 2019-20. The order, dated March 05, 2026, was received by the company via email on March 06, 2026.
The GST Authority has raised a demand of ₹5,03,51,468 towards GST, along with applicable interest and a penalty of ₹1,25,87,867, under the provisions of the CGST Act, 2017, SGST Act, 2017, and IGST Act, 2017.
The contentions for the order include a levy of tax amounting to ₹4,57,79,447 on export turnover, treated as local sales, and ₹45,72,022 due to unspecified reasons on the issuance of certain credit notes pertaining to export turnover. The total disputed amount is ₹6,29,39,335, comprising the tax amount and penalty, plus applicable interest.
Gland Pharma, however, is of the view that the tax demand and penalties are not justified. The company is in the process of filing a necessary appeal with the appellate authority. Based on their evaluation, Gland Pharma stated that there is no material impact on the financials, operations, or other activities of the company due to this order.
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Gland Pharma Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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