GlaxoSmithKline Pharmaceuticals Limited has received an Order dated May 31, 2024 for period FY 2017-18 to 2021-22 from Telangana Commissioner of Customs and Central Tax (Appeals-II), raising total demand of ₹ 1,07,16,991 in Telangana State, according to the exchange filling.
The order was passed under Section 73 & 74 of CGST Act, 2017. Tax of ₹ 91,76,555, Interest not quantified and Penalty of ₹ 15,40,436/-.
The demand order is in relation to GST credit related issues (mismatch between Company’s GST returns vis-à-vis details reported by suppliers) and disallowance of GST credit attributable to GST credit notes issued to customers.
The Company is in the process of preferring to file an Appeal against the said order.