Gland Pharma Receives IGST Demand Order; Files Appeal
Gland Pharma received an IGST demand and penalty order for ₹3.52 crore for FY21-22 from Customs Authority. The company disputes the demand and will file an appeal. Gland Pharma expects no material financial impact.
The company has stated that based on their evaluation, there is no material impact on the financials, operations, or other activities due to the said order, despite the demand and penalty amount.
The company has received an order for IGST demand and penalty, which is a negative development. However, the company disputes the demand and expects no material impact, also planning to file an appeal, which balances the sentiment towards neutral.
Gland Pharma Limited has received an order from the Customs Authority concerning an IGST demand, including interest and penalty, for the fiscal years 2020-2021 and 2021-2022. The order, dated July 10, 2026, from the Principal Commissioner of Customs, Hyderabad, confirms an IGST demand of ₹3,52,93,678/-
along with applicable interest and levies a penalty of ₹3,52,93,678/- under the Customs Act, 1962. The company received this order on July 15, 2026. The disputed amount is ₹3,52,93,678/- for IGST and an additional ₹3,52,93,678/- for the penalty, stemming from the availment of IGST benefits under Notification No. 18/2015-Cus.
Gland Pharma is in the process of filing an appeal with the appellate authority. The company believes the IGST demand and penalties are not justified and, based on their evaluation, anticipates no material impact on its financials, operations, or other activities 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 low impact, the band that almost never moves a portfolio on its own.
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