Tax & Penalty16 Jul 2026, 04:08 pm
Gland Pharma Receives ₹7.05 Cr IGST Demand & Penalty Order
AI Summary
Gland Pharma Ltd has received an order from the Principal Commissioner of Customs, Hyderabad, confirming an IGST demand of ₹3,52,93,678 along with applicable interest and a penalty of ₹3,52,93,678. The demand is related to the availment of IGST benefit under Notification No. 18/2015-Cus for FY 2020-2021 & FY 2021-2022. The total disputed amount, including IGST, interest, and penalty, amounts to ₹7,05,87,356. The company believes the demand and penalties are unjustified and plans to file an appeal with the appellate authority. Gland Pharma assesses that this order will not have a material impact on its financials, operations, or other activities.
Key Highlights
- Customs Authority issued IGST demand and penalty order.
- Total disputed amount including penalty is ₹7.05 Cr.
- Company plans to appeal the order.
- No material financial or operational impact expected.
Price Impact
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