Legal31 Mar 2026, 06:11 pm
Panacea Biotec Faces ₹22.88 Crore GST Demand from CGST Sub-Commissionerate Mohali
AI Summary
Panacea Biotec Ltd has received a Demand Order dated 30.03.2026 from the Office of the Joint Commissioner, CGST Sub-Commissionerate Mohali, Chandigarh under the Central / Integrated Goods and Services Tax Act, 2017. The demand is for ~₹22.88 Crore towards non-payment of GST including penalty. This is in relation to the alleged non-payment of GST of ~₹11.44 Crore on supplying Corporate Guarantee amounting to ₹864 Crore for 1,074 days from April 06, 2019 to March 15, 2022. The Company has filed a writ petition and also responded to the Show Cause Notice. Despite the interim stay order, a Demand Order has been issued.
Key Highlights
- Panacea Biotec Ltd has received a Demand Order from the Office of the Joint Commissioner, CGST Sub-Commissionerate Mohali, Chandigarh under the Central / Integrated Goods and Services Tax Act, 2017.
- The demand is for ~₹22.88 Crore towards non-payment of GST including penalty.
- This is in relation to the alleged non-payment of GST of ~₹11.44 Crore on supplying Corporate Guarantee amounting to ₹864 Crore for 1,074 days.
- The Company has filed a writ petition and also responded to the Show Cause Notice.
- Despite the interim stay order, a Demand Order has been issued.