Innova Captab Limited has informed the Exchange regarding 'Intimation under Regulation 30
INNOVACAP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Innova Captab Limited received a Show Cause Notice dated 15th October 2025 under section 74 of the CGST Act, 2017 from the Central GST Commissionerate, Shimla, proposing a tax demand of ₹15,81,37,255.40 (approximately ₹158.14 crore) along with penal proceedings. The company submitted its response within the prescribed timeline with supporting documents. On 14th April 2026, the adjudicating authority issued Order-in-Original dropping all proceedings and the proposed demand, concluding the matter with no liability on the company. This removes a significant regulatory uncertainty hanging over the pharmaceutical company.
This is a positive development for shareholders as the company avoids a potential liability of over ₹158 crore. The dropped proceedings eliminate regulatory risk and should be viewed favorably for the stock.