Link Pharma Chem GST Demand Reduced to ₹16.3 Lacs

Link Pharma Chem Ltd has received an order from the GST Appellate Authority, Tribunal, Vadodara, significantly reducing its final demand for GST and penalty for FY 2021-22. The original demand of ₹1,32,94,322 has been reduced to ₹16,29,852, and the penalty has been reduced from ₹13,29,433 to ₹2,05,605. The company cited mismatches in tax liability declarations and excess ITC availed as reasons for the initial demand. While the financial impact is limited to the reduced demand and penalty, the company intends to file an appeal with the appropriate authority. There is no material impact on the company's operations.