Valiant Labs receives GST order: ₹36 Lakhs demand, ₹18 Lakhs penalty confirmed
Valiant Laboratories Limited received an order confirming a GST demand of ₹18 Lakhs and a penalty of ₹18 Lakhs. The order relates to corporate guarantee and is part of a larger ₹36 Lakhs demand. Allegations regarding IPO expenses and turnover mismatch were dropped. The company is evaluating an appeal.
The confirmed GST demand and penalty of ₹36 Lakhs is a material amount for the company, impacting its financials, although other significant allegations were dropped.
The company has received an order confirming a GST demand and penalty, which has a negative financial implication.
Valiant Laboratories Limited has received an order dated May 29, 2026, from the Office of the Joint Commissioner, CGST & C. Ex., Navi Mumbai Commissionerate. This order confirms a Goods and Services Tax (GST) demand amounting to ₹18 Lakhs.
This confirmed demand is part of a larger demand of ₹36 Lakhs initially raised in a Show Cause Notice dated January 15, 2026. Additionally, the order imposes a penalty of ₹18 Lakhs and applicable interest under the CGST and SGST Acts, 2017, related to corporate guarantee.
However, the adjudicating authority has dropped other alleged violations mentioned in the Show Cause Notice. These include the ineligible availment of Input Tax Credit on IPO expenses of approximately ₹2.85 Crore and a turnover mismatch between financial statements and GST returns for FY 2021-22 of approximately ₹9.31 Crore.
The period for which this communication is applicable is April 2023 to March 2024. The company is currently evaluating all options, including filing an appeal against the order before the appropriate authority.
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