Tax & Penalty5 May 2026, 06:51 pm
Alkem Labs Receives Favorable GST Order-in-Appeal
AI Summary
Alkem Laboratories Ltd. has received a favorable Order-in-Appeal under the Goods and Services Tax Act, 2017. The order drops a GST demand of ₹69,65,52,636 along with applicable interest and a penalty of ₹69,65,52,636. The order was received on May 4, 2026. The company stated that the alleged violation was related to incorrect availment of ITC/payment of GST refund, but there is no material impact on the company's financials or operations.
Key Highlights
- Alkem Labs received a favorable GST Order-in-Appeal.
- The order drops a GST demand of ₹69.66 Cr plus interest and penalty.
- The alleged violation concerned incorrect ITC availment/GST refund.
- The company reports no material financial or operational impact.