Alkem Laboratories Limited has informed the Exchange about Action(s) initiated or orders passed
ALKEM · price
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Alkem Laboratories has received a GST demand order from the Assistant Commissioner, Ward 203, Zone 11, Delhi, relating to its Delhi GSTIN for FY 2018-2019. The order demands GST of Rs. 21.94 lakh, interest of Rs. 12.83 lakh, and a penalty of Rs. 21.94 lakh, totalling roughly Rs. 56.71 lakh. The demand mainly alleges excess availment of Input Tax Credit. The company has stated it disagrees with the order and plans to file an appeal. Alkem has clarified there is no material impact on its financials or operations from this order.
The financial impact is small and the company has confirmed it is not material. Since the matter pertains to a routine tax dispute that the company intends to contest, this should not meaningfully affect shareholders or the stock price.