Alkem Laboratories Limited has received an order passed by Additional Commissioner, Office of Additional Commissioner, Central GST SUB. - Commissionerate, Mohali: Chandigarh. An order has been received by Punjab GSTIN for the financial years 2017-2018 to 2019-2020 demanding IGST of INR 34,708,628, CGST of INR 1,160 and SGST of INR 1,160 along with penalty of INR 36,339,938 (IGST), INR 2,448 (CGST) & INR 2,448 (SGST) and applicable interest under the provisions of the CGST/SGST/IGST Act, 2017.

Order was received on 14th May, 2024. The demand order mainly alleges excess availment of GST Input Tax Credit. The Company does not agree with the said demand order and will contest the same.

There is no material impact on financial, operation or other activities of the Company.