GlaxoSmithKline Pharmaceuticals Limited has informed the Exchange about Action(s) initiated or orders passed
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GlaxoSmithKline Pharmaceuticals has received an order dated 24 June 2025 from the Commissioner, CGST & CX, Appeals-II, Kolkata, raising a GST demand of Rs. 3.39 crore for the period April 2017 to March 2018. The demand comprises Rs. 1.69 crore in tax and Rs. 1.69 crore in penalty, with interest not yet quantified. The order relates to the disallowance of transitional credit (TRAN 1 and TRAN 2) claimed under GST. The company has stated there is no impact on its financial operations and is evaluating the order to take appropriate action, which may include further appeal.
The demand is relatively small for a company of GSK's size and the company says it does not affect financial operations; the stock is unlikely to see material reaction, though investors should watch for further legal action.