Glenmark Pharmaceuticals has been issued a demand by the Joint Commissioner of Central Goods & Service Tax and Central Excise, Mumbai East Commissionerate, amounting to ₹32,10,83,018 for the fiscal year 2020-21. The demand includes ₹16,05,41,509 in alleged short-paid CGST/SGST and an equivalent amount as a penalty.
The adjudication order, passed under sections 74 and 122 of the Central Goods and Services Tax Act, 2017, was received by Glenmark on 31 March 2026. The order claims that Glenmark’s transaction involving the sale of a brand in FY 2020-21 should be treated as a mixed supply, thus attracting a higher GST rate.
In response, Glenmark Pharmaceuticals has stated that it does not accept the demand and plans to appeal the decision before the appropriate authority. The company has assured stakeholders that there is no material impact on its financials, operations, or other activities due to this order.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).