Maxcure Nutravedics, a subsidiary of Akums Drugs & Pharmaceuticals, has received an additional penalty of INR 1,79,55,000 from the State Tax authority in Gujarat. This penalty, levied under Section 129(3) of the CGST Act, 2017, is due to an error in the shipping address on invoices. This is in addition to a previously disclosed penalty. The total impact is considered immaterial.
Additional Penalty Imposed
Akums Drugs & Pharmaceuticals Ltd reports that its wholly-owned subsidiary, Maxcure Nutravedics Limited, has been subjected to a further financial penalty. According to an order received from the Office of the Deputy Commissioner of State Tax, Gujarat, an additional penalty of INR 1,79,55,000 has been imposed.
Reason for Penalty
The penalty arises under Section 129(3) of the CGST Act, 2017. The penalty is related to an error concerning the shipping address incorrectly stated on invoices and e-way bills in October 2025.
Financial Impact
The total financial impact, inclusive of the previously disclosed penalty, amounts to INR 3,59,10,000. Akums Drugs & Pharmaceuticals has stated that the overall impact is not material to the company’s financials.
Source: BSE
