Jubilant Pharmova Receives ₹87.31 Cr GST Show Cause Notice

Jubilant Pharmova Limited has received a Show Cause Notice from the Assistant Commissioner of Commercial Taxes (Enforcement)-4, Mysore, proposing a demand of ₹87.31 Crore. This includes GST (₹33.58 Cr), interest (₹20.15 Cr), and penalty (₹33.58 Cr) for the Financial Year 2022-2023. The notice cites issues such as alleged ineligible ITC, excess ITC availed, and differential tax liability based on E-waybill records. The company is preparing a detailed reply to contest the demand, asserting that the notice is factually and legally incorrect and was issued without proper verification. Jubilant Pharmova expects no financial or operational impact as they believe they have a strong case.