Disclosure order Regulation 30 read with Part A of Schedule III of SEBI Regulation 2015 Demand order from Assistant Commissioner Central GST & Central Excise Vadodara FY 2021-22
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Link Pharma Chem Ltd has received a demand order from the Central GST & Central Excise authority in Vadodara for FY 2021-22. The order raises a GST demand of Rs. 1,05,21,897 along with interest and a penalty of Rs. 10,52,190. Additionally, Rs. 11,29,639 has been demanded for excess Input Tax Credit (ITC) availed, plus interest and a penalty of Rs. 1,12,964. The total potential liability works out to roughly Rs. 1.28 crore including interest and penalties. The alleged violations are mismatches between tax liability declared in GSTR-1 versus GSTR-3B, and excess ITC claimed on imports not matching GSTR-2A. The company has stated there is no material impact on its operations and intends to file an appeal with the appropriate authority.
The combined demand is modest relative to a typical small-cap pharma company and the company has classified it as non-material. However, the appeal outcome remains a key watch point — an unfavourable ruling could affect cash flows, while a successful appeal would remove the overhang. Near-term stock impact is likely limited.