GlaxoSmithKline Pharmaceuticals Limited has received a refund of ₹52.00 crore concerning assessment year 1984-85, following an order from the ACIT Cir 7(1)(1). Additionally, the company will recognize ₹42.09 crore as interest income on this refund, which will be credited to its Profit & Loss account. This event impacts the company’s cash position and profitability for the period.
Tax Refund and Interest Income Received
GlaxoSmithKline Pharmaceuticals Limited has announced the receipt of a significant refund of ₹52.00 crore. This refund is related to an order from the ACIT Cir 7(1)(1) for the assessment year 1984-85. The company confirmed the refund was received in its bank account on August 6, 2026.
Financial Impact of Refund
Further to this refund, GlaxoSmithKline Pharmaceuticals Limited will also record interest income amounting to ₹42.09 crore. This interest income, pertaining to the GSK refund for assessment year 84-85, will be recognized and credited to the company’s Profit & Loss account as income. The company has stated that the details of the violation(s) or contravention(s) committed are not applicable (N.A.) in this context.
Source: BSE
