GST Department Drops Rs 69.65 Cr GST Demand against Alkem Laboratories:

GST Department Drops Rs 69.65 Cr GST Demand against Alkem Laboratories Alkem Laboratories Ltd, an Indian multinational pharmaceutical company, recently disclosed to NSE Ltd and BSE Ltd regarding an update on an earlier GST demand.

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Background

The company said that a higher tax authority has passed an order in its favour, cancelling a GST demand of about Rs 69,65,52,636. This amount also included an equal amount of interest and penalty that the company was earlier asked to pay under the GST laws. So, with this new order, the company is no longer required to pay this tax, interest, or penalty under the IGST, CGST, and SGST Acts of 2017.

Financial Impact

The company stated that there is no material impact on the financial, operational or other activities of the company.

Key Details

Particular	Details
Company	Alkem Laboratories Limited
Issuing Authority	Commissioner (Appeals) - II CGST & C.Ex, Mumbai
Violation	Alleged incorrect availment of ITC payment of GST refund
Financial impact	NIL
Date of receipt	4th May 2026

Company's Disclosure

The company made the above disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI LODR Regulations").