Jubilant Pharmova’s wholly-owned subsidiary, Jubilant Generics Limited, has received a Show Cause Notice from the Joint Commissioner, CGST Division, Roorkee. The notice proposes a demand of ₹52.75 crore for IGST, an unquantified amount for interest, and a penalty of ₹52.75 crore for the financial years 2020-21 and 2021-22. This dispute arises from the alleged availment of IGST refund under Rule 96 and the benefit of the Advance Authorisation scheme, potentially violating Rule 96(10) of CGST Rules.
Subsidiary Faces Significant Tax Notice
Jubilant Pharmova announced that its wholly-owned subsidiary, Jubilant Generics Limited, has received a Show Cause Notice. This notice was issued by the Joint Commissioner, CGST Division, Roorkee, and proposes a demand for Goods and Services Tax (GST), interest, and penalty. The proposed demand covers the financial years 2020-21 to 2021-2022.
Details of the Tax Dispute
The core of the dispute revolves around the alleged improper availment of an IGST refund. Specifically, the notice points to the availment of IGST refund under Rule 96 and the benefit of the Advance Authorisation scheme simultaneously. This action is alleged to be in violation of Rule 96(10) of the CGST Rules, 2017. The notice proposes a demand of ₹52.75 crore for IGST, an unquantified amount for interest, and a further penalty of ₹52.75 crore. The total quantified demand currently stands at ₹105.5 crore, excluding interest.
Company’s Response and Outlook
Jubilant Pharmova states that the company is in the process of preparing a detailed reply to the Show Cause Notice. The company intends to file this response before the Joint Commissioner, CGST Division, Roorkee. The notice was received on August 27, 2026, at 12:35 PM IST. While the company is actively preparing its defence, it anticipates no immediate financial or operational impact, believing it has a strong case.
Disclosure and Further Actions
The information concerning this notice has been provided in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The details of this event have been enclosed as Annexure-A and will be simultaneously posted on the company’s website, www.jubilantpharmova.com.
Source: BSE
