In a regulatory filing, the company said the order was issued on December 27, 2025, under Section 74 of the Goods and Services Tax Act, 2017, covering the financial years 2018-19 to 2022-23.
According to the disclosure made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the tax authority has raised a GST demand of Rs 4,39,55,698 along with an equivalent penalty of Rs 4,39,55,698, aggregating to a total demand of Rs 8,79,11,396, excluding applicable interest. The demand has been raised on allegations of incorrect availment of Input Tax Credit (ITC) by Pfizer Limited during the audited period.
The pharmaceutical major, however, has disputed the findings of the GST department. Pfizer stated that based on the Company’s assessment, the Company believes that the said demand is not maintainable.
The Company is in the process of preferring an appeal against the said Order. The Order has no material impact on the financials, operations, or other activities of the Company.
In compliance with SEBI’s disclosure norms and the recent circular issued on November 11, 2024, Pfizer has also provided additional details, confirming that the order was passed by the Additional Commissioner of GST and CX, Kolkata jurisdiction, and was issued under Section 74 of the GST Act, which deals with cases involving alleged suppression or willful misstatement.
On the impact of the order, Pfizer Limited clarified,
"Based on the assessment, we believe that the said demand is not maintainable, and the Company is in the process of preferring an appeal against the said Order.
The Order has no material impact on the financials, operations or other activities of the Company."
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