Alkem Laboratories Limited has informed the Exchange about Action(s) initiated or orders passed
ALKEM · price
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Alkem Laboratories has received an order from the Commissioner (Appeals), Central GST Appeals Commissionerate in Ludhiana, related to its Punjab GSTIN for the period July 2017 to March 2020. The order confirms a GST demand of about Rs. 1.69 crore along with interest and penalty of about Rs. 1.85 crore, totalling roughly Rs. 3.54 crore. The allegation is excess availment of Input Tax Credit under the IGST, CGST, and SGST Acts. The company has stated it disagrees with the order and will file an appeal. Management has clarified that there is no material impact on the company's financial position, operations, or other activities.
The financial impact is limited as the total demand of ~Rs. 3.54 crore is small relative to Alkem's overall business and the company has stated no material impact. The stock is unlikely to react significantly, though the matter will be tracked as it moves through the appellate process.