Disclosure under Regulation 30 of SEBI (Listing Obligations and Discloure Requirements) Regulations, 2015.
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Oxygenta Pharmaceutical has received a favorable order from the Appellate Joint Commissioner of State Tax, Punjagutta Division, Hyderabad, setting aside a disputed GST/state tax demand of Rs. 41,31,351 originally raised for FY 2017-18 (April 2017 to March 2018). The demand related to ITC recovery on non-business transactions and exempt supplies, originally raised through an order dated November 25, 2023. The company had filed an appeal (dated February 24, 2024) challenging this demand, and the appellate authority has now fully set aside and annulled the demand. The favorable order was received on February 19, 2026. The company has stated there is no financial impact and no penalty or compensation was paid, as the matter stands resolved in its favor.
Positive for shareholders — a contingent tax liability of approximately Rs. 41.31 lakhs has been completely nullified, removing any provisioning concern from the company's books. This is a clean win with no associated costs.