Bliss GVS Pharma Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
BLISSGVS · price
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Awaiting price reaction for this filing.
On July 1, 2025, Bliss GVS Pharma received a Show Cause Notice from the Joint Commissioner of CGST and Central Excise, Mumbai East, concerning an IGST refund of approximately Rs. 6.65 crore claimed during FY 2018-19. The tax department alleges the refund was availed in contravention of Rule 96(10) of the CGST Rules, 2017, which relates to exporting goods while paying IGST and also claiming a refund. The notice seeks to demand repayment of the refund amount along with interest and penalties under sections 74(1), 50, 122(2)(b), and 125 of the CGST Act, 2017. The company has 30 days to respond and has stated it is preparing a reply to defend its position. The company has clarified that there is currently no financial, operational, or other impact on its business from this notice.
This is a preliminary tax dispute, not a final order, so there is no immediate financial impact on the company. However, if the adjudication goes against Bliss GVS Pharma, it could face a demand of up to Rs. 6.65 crore plus interest and penalties, which is a meaningful sum. Investors should monitor the outcome of the company's reply and the adjudication process for potential financial implications.