Unichem Laboratories disclosed on July 29, 2026, that the Additional Commissioner, Central Goods & Services Tax (CGST), (Appeals), Dehradun, has partially allowed its appeal concerning the disallowance of GSTR TRAN 1 credit. The order resulted in a demand of Rs 10,59,354 plus interest under Section 50 of the CGST Act, 2017. This development follows an earlier intimation dated January 27, 2025, regarding the ongoing dispute over input tax credit eligibility.

The regulatory action stems from an initial order by the Assistant Commissioner, CGST Division, Dehradun, which had disallowed TRAN 1 credit amounting to Rs 73,02,757 under Section 140(3) of the CGST Act, 2017. The original order also invoked Sections 74 and 122 of the Act for the same amount. Unichem Laboratories filed an appeal against this decision, leading to the recent partial allowance by the appellate authority.

Regulatory Details

The company received the direction from the authority on July 28, 2026, after 3:00 p.m., triggering disclosure requirements under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The specific nature of the contravention alleged is the partial disallowance of GSTR TRAN 1 credit.

Financial Impact and Next Steps

Unichem Laboratories stated that the order will have no material impact on its financial, operational, or other activities. The company noted that it will take appropriate steps, including filing a further appeal against the said order within prescribed timelines, based on legal advice. The disclosure was made pursuant to Para (A) of Part (A) of Schedule III to Regulation 30 of the SEBI LODR Regulations, 2015.

What the Numbers Show

The reduction in the disputed amount from Rs 73,02,757 to Rs 10,59,354 indicates that the appellate authority accepted a significant portion of Unichem Laboratories' claim for GSTR TRAN 1 credit. Despite the remaining liability and associated interest, the company's assertion of no material financial impact suggests the revised demand is negligible relative to its overall balance sheet strength.

Promoters of Unichem Laboratories have confirmed that no encumbrance has been created on the equity shares held by them for the financial year ended March 31, 2026. The declaration, submitted to the stock exchanges, assures that the shares remain free from direct or indirect charges during this period. This disclosure is significant for shareholders as it indicates the promoters' holdings are not pledged, which reduces potential risk regarding ownership stability.

The filing was made pursuant to Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The communication was addressed to BSE Ltd. and the National Stock Exchange of India Ltd. on April 2, 2026. The declaration was submitted on behalf of the promoters by Harish Kamath, Corporate Counsel & Company Secretary of Ipca Laboratories Ltd.

Promoter Details

The annexure accompanying the declaration identifies the entities classified as promoters and persons acting in concert (PAC).

The document specifies that Ipca Laboratories Limited is the sole promoter listed in the annexure. A copy of the declaration was also forwarded to Unichem Laboratories and its Audit Committee of Board of Directors for their records.