Akums' Maxcure Nutravedics Secures Relief from Rs 3.59 Crore Tax Penalty
New Delhi: Akums Drugs and Pharmaceuticals Limited has announced that the First Appellate Authority in Ahmedabad, Gujarat, has set aside a penalty of Rs 3.59 crore imposed on its wholly owned subsidiary, Maxcure Nutravedics Limited.
The development comes after the company had earlier informed the stock exchanges about the penalty proceedings through disclosures dated December 15 and December 16, 2025.
According to the company, orders had been passed for the imposition of a penalty amounting to Rs 3,59,10,000 on Maxcure Nutravedics Limited. The penalty was imposed after the shipping address was mistakenly entered incorrectly in an invoice and e-way bill issued in October 2025.
The matter subsequently came before the First Appellate Authority in Ahmedabad, Gujarat. In its order dated July 3, 2026, the appellate authority set aside the penalty imposed on the Akums subsidiary.
The authority concerned in the matter was the Deputy Commissioner of State Tax, Appeal (1), Division 1, Ahmedabad, Gujarat. The company received the appellate order on July 3, 2026.
Following the appellate authority’s decision, Akums Drugs and Pharmaceuticals Limited stated that the matter will have no financial impact on the company.
