GlaxoSmithKline Pharmaceuticals Limited announced the receipt of a Final Order from the tax authority concerning the assessment year 2023-2024. The order mandates a total demand liability of Rs 23.21 Crore. The company has stated that it is currently contesting this assessment order and is preparing to file an appeal with the appellate authority. At the present time, the company asserts that there is no material financial impact resulting from this order.
Receipt of Final Tax Assessment Order
GlaxoSmithKline Pharmaceuticals Limited has formally informed the exchanges regarding the receipt of a Final Order following a scrutiny assessment. This order pertains to the Assessment Year (AY) 2023-2024.
Details of Demand Liability
The particulars of the order are summarized below:
- Authority Action: A Demand Liability was issued by the Central Processing Centre (CPC).
- Financial Implication: The total demand liability stands at Rs INR 23.21 Crore for AY: 2023-2024.
- Order Date: The Assessment Order was dated 23rd March, 2026, and officially received by the company on 24th March, 2026.
Company Response and Financial Impact
The company has clarified its position regarding the recent notification. It is important to note that there were No Allegations of violations or contraventions detailed in the order. Critically, GlaxoSmithKline is contesting the assessment order. The necessary steps are underway to file an appeal before the relevant appellate authority. Due to this ongoing process, the company confirms that at present, there is no impact on the financial statements of the listed entity.
Source: BSE
