GlaxoSmithKline Pharmaceuticals Limited announced the receipt of an Order from Maharashtra GST authorities, dated February 17, 2026, pertaining to the April 2022 to March 2023 period. The total demand raised amounts to Rs. 6,92,76,478, comprising tax, interest, and penalty related to the alleged non-payment of GST on export services. The company stated there will be no immediate impact on financial operations, and appropriate actions will be taken.
Regulatory Disclosure Update
GlaxoSmithKline Pharmaceuticals Limited has formally disclosed the receipt of a significant Order from the Maharashtra GST authorities concerning transactions between April 2022 and March 2023. The formal communication regarding this order was received by the company on February 20, 2026.
Details of the Tax Demand
The Order was issued by the Additional Commissioner, CGST & Central Excise, Mumbai Central. The total demand raised aggregates to Rs. 6,92,76,478. This amount is specifically itemized as follows:
- Tax Demand: Rs. 3,46,38,239
- Penalty: Rs. 3,46,38,239
- Interest: Not quantified at the time of the order.
Alleged Violation and Financial Impact
The demand stems from the alleged non-payment of GST pertaining to the export of services. Crucially, the management has assessed the immediate financial impact, confirming that there is No impact on financial operations of the Company. GSK stated it will be taking appropriate actions in due course to address the matter. It was noted that the official Order has not yet been uploaded to the GST portal and was received physically.
Source: BSE
