Jubilant Generics Receives ₹105.5 Cr GST Show Cause Notice

Jubilant Pharmova's wholly-owned subsidiary, Jubilant Generics Limited, has received a Show Cause Notice from the Joint Commissioner, CGST Division, Roorkee. The notice proposes a demand of ₹52.75 Cr for GST, an equal amount for penalty, and an unquantified amount for interest. This pertains to the financial years 2020-21 and 2021-2022, alleging the simultaneous availment of IGST refund and the benefit of the Advance Authorisation scheme, in violation of CGST Rules. Jubilant Pharmova states the notice is factually and legally incorrect and expects no financial or operational impact, as they have a strong case and will file a detailed reply.