Panacea Biotec Receives ₹22.88 Crore GST Demand Order
Panacea Biotec Limited received a GST demand order for ₹22.88 Crore, including ₹11.44 Crore in alleged non-payment of GST and ₹11.44 Crore penalty. This relates to corporate guarantees of ₹864 Crore from April 2019 to March 2022. The company has filed a writ petition and obtained an interim stay. It believes the demand is not maintainable and expects no significant financial impact.
While the company believes the demand is not maintainable and expects no major financial impact, the demand of ₹22.88 Crore is substantial and could potentially affect operations if not resolved favorably.
The company has received a significant demand order for GST and penalty, which is a negative development.
Panacea Biotec Limited has received a Demand Order dated March 30, 2026, from the Office of the Joint Commissioner, Central Goods & Services Tax (CGST) Sub-Commissionerate Mohali, Chandigarh. The order, issued under the Central/Integrated Goods and Services Tax Act, 2017, raises a demand of approximately ₹22.88 Crore. This demand includes an alleged non-payment of Goods and Services Tax (GST) of ₹11.44 Crore and a penalty of ₹11.44 Crore. The alleged non-compliance pertains to the supply of Corporate Guarantee amounting to ₹864 Crore for 1,074 days from April 06, 2019, to March 15, 2022.
Previously, the company had received a Show Cause Notice (SCN) on this matter. In response, Panacea Biotec filed a writ petition on November 24, 2025, before the Hon’ble Punjab & Haryana High Court. The High Court granted an interim stay, stipulating that no coercive action should be taken against the company if a final assessment order or demand is raised. The company also submitted its response to the SCN on March 27, 2026. Panacea Biotec believes the demand is not maintainable and intends to take all necessary steps. The company does not envisage any significant impact on its financial, operational, or other activities.
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Panacea Biotec 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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