Alkem Laboratories Limited has received an order passed by statutory authority under the Goods and Services Tax Act, 2017 for F.Y. 2020-2021 and 2021-2022 demanding GST of ₹ 62,07,94,312/- under the applicable provisions of the CGST Act, 2017 and SGST Act, 2017.
The demand order mainly alleges payment of GST liability under the head CGST and SGST instead of IGST already discharged by the Company.
The Company is likely to challenge the order before an appropriate authority. “The Company does not agree with the demand order and will contest the same,” said Alkem Laboratories in their regulatory filing.
The disclosure before the exchange was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
