Panacea Biotec Subsidiary's Tax Demand Reduced to ₹0.81 Crore
Panacea Biotec Pharma Limited's tax demand has been reduced from ₹1.58 Crore to ₹0.81 Crore by the Deputy Commissioner of State Tax, Maharashtra. The subsidiary is appealing the order, and the company does not foresee any material impact on its operations or finances.
The company has explicitly stated that it does not envisage any relevant impact on its financial, operation, or other activities. The reduced demand of ₹0.81 Crore is likely to be immaterial to the overall financial health of the company.
The tax demand has been reduced, which is a positive development. However, the subsidiary is still contesting the remaining demand, and the company has stated no material impact, indicating a neutral overall sentiment as the litigation is ongoing.
Panacea Biotec Limited announced an update regarding ongoing tax litigation involving its wholly owned subsidiary, Panacea Biotec Pharma Limited (PBPL).
An Order dated March 10, 2026, was received from the Deputy Commissioner of State Tax, Maharashtra. This order pertains to an appeal filed by PBPL in May 2025 against a demand order of ₹1.58 Crore issued in Financial Year 2024-25. The original demand was for tax, interest, and penalty related to alleged excess or ineligible Input Tax Credit and other tax liabilities.
The new Order has reduced the total tax demand from ₹1.58 Crore to ₹0.81 Crore. PBPL is of the view that this demand is not maintainable and is taking necessary steps, including filing an appeal with the appellate authority against the recent Order. The company does not anticipate 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 litigation updates. 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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