Alkem Labs receives GST demand order of about Rs 54.94 lakh from Dehradun authorities

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AI summary

Alkem Laboratories received a GST order from the Assistant Commissioner, Central GST Division, Dehradun covering FY 2018-19 to 2022-23. The order demands GST of Rs 27.14 lakh, penalty of Rs 27.79 lakh, plus applicable interest, alleging excess availment of Input Tax Credit. The company disagrees with the demand and plans to file an appeal. Alkem states there is no material impact on its financials or operations.

Likely market impact

Minor tax dispute, company says no material impact. Appeal planned. Watch for any further escalation in future filings.