GSK Pharmaceuticals slapped with GST Demand Order of Rs.1.07 Crore from Telangana Commissioner
The GlaxoSmithKline Pharmaceuticals Limited has received an Order dated 31st May 2024 from Telangana Commissioner of Customs and Central Tax (Appeals-II), raising a total demand of Rs.1,07,16,991 in Telangana State from FY 2017-18 to 2021-22, according to the exchange filling.
The order was issued under Sections 73 and 74 of the CGST Act, 2017. Tax of Rs. 91,76,555, interest not quantified, and a penalty of Rs.15,40,436.
The demand order is connected to GST credit issues (mismatch between the Company’s GST filings and the facts submitted by suppliers) and the disallowance of GST credit due to GST credit notes issued to consumers.
The company is in the process of filing an appeal against the reported order.