Mankind Pharma Limited received an Order on 28 February 2025 issued by Deputy Commissioner State Tax, Trimurti Nagar, Nagpur under Section 73 of the CGST Act, 2017. Order-in-Original passed u/s 73 of Central Goods and Services Tax Act, 2017 for Fiscal Year 2020-21 levying penalty of INR 4,632,582. The GST Authority has passed the Order, pursuant to GST audit for the Fiscal Year 2020-21 on account of disallowance of alleged inadmissible ITC.
Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible: Based on the assessment of facts and prevailing law, the Company is of the view that the demand including penalty levied is arbitrary and unjustified. The Company also believes that the calculation of penalty amount is arithmetically incorrect. The Company does not agree with the order and will take appropriate action(s) for the same including filing of an appeal if required.
There is no material impact on the company's financials, operations, or other activities.
Mankind Pharma Limited is an India-based pharmaceutical company. It is engaged in developing, manufacturing, and marketing a range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products. It offers healthcare solutions for a range of healthcare needs with a portfolio that includes anti-infectives, cardiovascular, gastrointestinal, anti-diabetic, neuro/ central nervous system, vitamins, minerals and nutrients and respiratory therapies. Its portfolio of brands includes Nurokind, Telmikind, Manforce (Rx), Gudcef, Moxikind, Amlokind, Glimestar, Asthakind, Codistar, Candiforce, Mahacef, Dydroboon, Cefakind, Zenflox, Monticope, Dynaglipt, and others. Its branded product portfolio spans women’s health, fertility and critical care, with several brands in their respective therapy areas. Its subsidiaries include Lifestar Pharma Private Limited, Magnet Labs Private Limited, Jaspack Industries Private Limited, and others.
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Investor
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Global
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ESG MSCI
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