Jubilant Pharmova Receives GST Show Cause Notice for ₹87.31 Crore
Jubilant Pharmova received a GST Show Cause Notice proposing a demand of ₹87.31 Crore (₹33.58 Cr GST, ₹20.15 Cr interest, ₹33.58 Cr penalty) for FY23. The notice was received on August 31, 2026. The company plans to contest the notice and expects no financial impact.
While the company expects no financial impact and plans to contest the notice, the amount of ₹87.31 Crore is material and could potentially impact financials if the company's defense is unsuccessful.
The company has received a significant demand notice for GST, interest, and penalty, which is a negative development.
Jubilant Pharmova Limited has received a Show Cause Notice from the Assistant Commissioner of Commercial Taxes (Enforcement)-4, Mysore, proposing a demand for GST, interest, and penalty for the Financial Year 2022-2023. The notice, received on August 31, 2026, at 1:00 PM IST, pertains to alleged ineligible Input Tax Credit (ITC), excess ITC availed, and differential tax liability based on E-waybill records. The total proposed demand amounts to ₹87.31 Crore, comprising ₹33.58 Crore in GST, ₹20.15 Crore in interest, and ₹33.58 Crore in penalty. The company is in the process of preparing a detailed reply to contest the notice, asserting that it is factually and legally incorrect and was issued without proper verification. Jubilant Pharmova expects no financial or operational impact as they believe they have a strong case and will file a reply with documentary evidence. The company will also post this disclosure on its website.
A plain-language summary of a public exchange filing by Jubilant Pharmova Limited. Read the original for the full detail.