Panacea Biotec Subsidiary Receives GST Show Cause Notice for ₹4.06 Crore
Panacea Biotec Pharma Limited received a GST Show Cause Notice for ₹4.06 Crore, including tax, interest, and penalty, for FY23. The notice alleges excess Input Tax Credit claim. The subsidiary is preparing a response and does not foresee adverse financial impact.
A tax liability of ₹4.06 Crore, while not immediately critical, could have a medium-term financial impact if not resolved favorably. The company's statement of no foreseen adverse impact mitigates immediate high impact.
The company has received a Show Cause Notice which indicates a potential liability. However, the company has stated that it does not foresee any adverse impact and is preparing a response, thus the sentiment is neutral.
Panacea Biotec Limited announced that its wholly-owned subsidiary, Panacea Biotec Pharma Limited (PBPL), has received a Show Cause Notice (SCN) dated July 23, 2026, from the Assistant Commissioner, Goods and Services Tax (GST), Delhi.
The notice, issued under Section 73 of the Delhi Goods & Services Tax / Central Goods & Services Tax Act & Rules, 2017, alleges a total tax liability of ₹4.06 Crore. This amount comprises ₹2.27 Crore in tax, ₹1.56 Crore in interest, and ₹0.23 Crore in penalty. The alleged liability stems from an excess claim of Input Tax Credit (ITC) in the Annual Return filed for the Financial Year 2022-23.
PBPL is currently in the process of gathering the necessary details to prepare a draft reply to the notice. The company stated that it does not foresee any adverse impact on its financial, operational, or other activities arising from this SCN. The matter is currently at the Show Cause Notice stage, with no penalty or restriction imposed yet.
What to do with a filing like this
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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See the model portfoliosA plain-language summary of a public exchange filing by Panacea Biotec Limited. Read the original for the full detail.