GST Probe at Mankind Pharma's BSV Unit in Mumbai
New Delhi: Mankind Pharma Limited has informed the stock exchanges that the Goods and Services Tax (GST) Department, Mumbai, carried out a search and inspection operation at Bharat Serums and Vaccines Limited (BSV), a wholly owned unlisted subsidiary of the company.
The operation was conducted over six days, commencing on February 3, 2026, and concluding on February 8, 2026.
In a disclosure, the company stated that the action was undertaken by the Assistant Commissioner of State Tax (D-0214), Investigation–B, Mumbai. The search and inspection were conducted under Section 67 of the Maharashtra Goods and Services Tax Act, 2017.
According to the company, the inspection pertained to aspects such as payment of tax, claims of input tax credit, reconciliation, and refunds. During the proceedings, Bharat Serums and Vaccines Limited fully cooperated with the tax authorities and provided all documents, clarifications, and details sought by the officials. The company also indicated that it would continue to extend its support and furnish any further information if required.
Mankind Pharma clarified that business operations at BSV continued as usual during the search and inspection period. It further stated that there has been no material impact on the subsidiary’s financial position, operational activities, or overall business due to the GST department’s action.
The disclosure was submitted to both BSE Limited and the National Stock Exchange of India Limited to ensure compliance with regulatory requirements. Mankind Pharma reiterated its commitment to transparency and adherence to statutory obligations while keeping stakeholders informed of material developments involving the company and its subsidiaries.
