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  1. Mankind Pharma faces over ₹2 crore penalty from GST authority

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Mankind Pharma faces over ₹2 crore penalty from GST authority

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1 min read | Updated on January 15, 2025, 11:50 IST

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SUMMARY

Mankind Pharma Ltd has been penalized ₹2.27 crore by the GST authority in Kolkata following an audit covering FY18 to FY22. The penalty, issued by the Commissioner of Kolkata South CGST & CX, alleges discrepancies in statutory returns.

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The order levied a penalty of ₹2,27,83,935 on the company.

The order levied a penalty of ₹2,27,83,935 on the company.

Mankind Pharma Limited on Wednesday said it has been imposed a GST related penalty of over ₹2 crore by tax authority in Kolkata over alleged mismatch in figures for the period of FY18 to FY22.

The company has received an order on January 14, 2025 from Office of the Commissioner of Kolkata South CGST & CX -- issued by Additional Commissioner, Mankind Pharma said in a regulatory filing.

"The GST Authority has passed the order, pursuant to the GST audit for the FY 2017-18 to FY2021-22 on the contention that there is a mismatch in the figures reported in various statutory returns...," it said.

The order levied a penalty of ₹2,27,83,935 on the company.

"Based on the assessment of facts and prevailing law, the company is of the view that the aforesaid order is arbitrary and unjustified," Mankind Pharma said, adding it would file necessary appeal with the appellate authority in this regard.

There is no material impact on financials, operations or other activities of the company, it added.

At 11:45 AM, shares of Mankind Pharma were trading 2.66% lower at ₹2,594.95 apiece on the NSE.

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