Mankind Pharma Slapped With Rs 46.32 Lakh Fine in GST Order
Mankind Pharma has stated its intent to pursue appropriate legal action, including filing an appeal if necessary.
Delhi: Mankind Pharma Limited has been penalized Rs 46,32,582 by the Deputy Commissioner of State Tax, Nagpur, under Section 73 of the CGST Act, 2017. The order, dated 28th February 2025, pertains to a GST audit for the financial year 2020-21, citing disallowance of alleged inadmissible Input Tax Credit (ITC) claimed by the company.
The company disclosed this regulatory development in an intimation to stock exchanges under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. However, Mankind Pharma strongly disagrees with the findings of the order, asserting that the penalty levied is arbitrary and unjustified. The company also highlighted arithmetical errors in the penalty calculation. Mankind Pharma has stated its intent to pursue appropriate legal action, including filing an appeal if necessary.
Despite the tax demand, the company reassured investors that the order would not have any material impact on its financials, operations, or other business activities.
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