GlaxoSmithKline Pharmaceuticals Limited — Important, 04-02-2025: General Updates

GlaxoSmithKline Pharmaceuticals Limited has received an order from the Delhi GST authorities for a total demand of ₹5.81 crore (cr) covering the period from July 2017 to March 2022. The order, issued by the Additional Commissioner Central Tax, includes a tax demand of ₹2.90 crore (cr), with the penalty amount also equaling ₹2.90 crore (cr). The demand primarily arises from disallowed GST credit due to input tax credit discrepancies identified between the company’s returns and those reported by suppliers. Despite the demand, the company has indicated there is no immediate impact on its financial operations and is currently evaluating the order to determine appropriate actions moving forward. Keep an eye on potential developments regarding this matter as it unfolds.