GlaxoSmithKline Pharmaceuticals Faces Rs 6.93 Crore GST Demand from Maharashtra Authorities

GlaxoSmithKline Pharmaceuticals Limited has received a significant GST demand order from Maharashtra tax authorities, totaling Rs 6,92,76,478 for the period covering April 2022 to March 2023. The pharmaceutical company disclosed this development in a regulatory filing dated 7th March 2026, in compliance with SEBI listing regulations.

The demand order was issued on 17th February 2026 by the Additional Commissioner, CGST & Central Excise, Mumbai Central, and was physically received by the company on 20th February 2026. The order pertains to alleged non-payment of GST related to export of services during the specified period.

The demand includes: - Tax: Rs 3,46,38,239 - Penalty: Rs 3,46,38,239 - Interest: Not quantified - Total Demand: Rs 6,92,76,478

The GST authorities have raised the demand on account of alleged non-payment of GST pertaining to export of services. The company noted that the order has not been uploaded online on the GST portal and was received in physical form, which may indicate the preliminary nature of the proceedings.

GlaxoSmithKline Pharmaceuticals has assessed that there will be no impact on the financial operations of the company. The management has indicated that appropriate actions will be taken in due course, suggesting the company may challenge the demand through available legal remedies.

The disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was signed by Ajay Nadkarni, Vice President – Administration, Real Estate & Company Secretary, ensuring proper corporate governance protocols were followed in communicating this material development to stakeholders.

Historical Stock Returns for GlaxoSmithKline Pharmaceuticals: - 1 Day: +1.53% - 5 Days: -4.14% - 1 Month: +2.97% - 6 Months: -9.13% - 1 Year: -6.53% - 5 Years: +63.02%