Gland Pharma Limited has informed the Exchange about Order passed by the GST Authority
GLAND · price
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On the reaction day the stock moved 2.7 pts more than Nifty Smallcap 250 and 1.6 pts more than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Gland Pharma has received an order from the Deputy Commissioner (ST)-V, GST Department, Telangana, raising a tax demand of ₹5.03 crore along with interest and a penalty of ₹1.26 crore, taking the total disputed amount to roughly ₹6.29 crore (plus interest) for FY 2019-20. The GST authority has treated some export turnover as local sales (₹4.58 crore) and flagged certain credit notes related to exports (₹45.72 lakh) as taxable. The company disagrees with the order, plans to file an appeal with the appellate authority, and has stated that there is no material impact on its financials, operations, or other activities.
The disputed amount is small relative to Gland Pharma's overall size, and the company will appeal, so the near-term impact on the stock is likely limited. Investors should watch the appeal outcome, as a final adverse ruling could result in an actual cash outflow of around ₹6.29 crore plus interest.