FDC Limited has received a GST demand notice from the Maharashtra State Tax Department, totaling ₹15.61 crores for alleged tax misclassification during FY 2021-22. The pharmaceutical company disclosed this development through a regulatory filing under Regulation 30 of SEBI Listing Regulations.

GST Demand Details

The Deputy Commissioner of State Tax, Kalbadevi, Mumbai issued the demand notice under Section 73(9) of CGST/MGST Act 2017. The comprehensive demand breakdown is presented below:

Nature of Alleged Violation

The GST authorities have identified a tax rate misclassification issue spanning FY 2021-22. According to the demand notice, FDC Limited allegedly charged 18% GST on certain products instead of the applicable higher rate of 28%. The correct tax structure should have included:

• CGST: 14%
• SGST: 14%
• Compensation Cess: 12%
• Total Rate: 28%

This misclassification resulted in the differential tax demand along with accumulated interest and penalties as per GST regulations.

Company's Response

FDC Limited has indicated it is currently reviewing the order in detail and plans to pursue appropriate legal remedies to contest the demand. The company has stated that it does not anticipate any material financial impact arising from this GST demand notice.

Regulatory Compliance

The disclosure was made in accordance with SEBI regulations, ensuring transparency with stakeholders regarding this regulatory development. FDC Limited received the demand notice and informed the stock exchanges as required under listing obligations.

FDC Limited has announced a significant corporate development with its Board of Directors approving the relocation of the company's registered office on December 19, 2025. The pharmaceutical company disclosed this decision under Regulation 30 of the SEBI Listing Regulations, marking a strategic shift in its corporate headquarters location.

Proposed Office Relocation Details

The Board approved shifting the registered office from its current location to a new Mumbai address. The relocation involves moving from the existing industrial area to a more centralized business location in the financial capital.

Approval Process and Timeline

The registered office shift requires member approval through a postal ballot process, along with potential approval from the Regional Director if required. FDC Limited has appointed Mr. Sanjay Dholakia as the scrutinizer to conduct the postal ballot process in a fair and transparent manner.

E-Voting Schedule

The company will conduct the postal ballot through electronic means only, with notices sent to members whose email addresses are registered with the registrar and transfer agent. The e-voting timeline has been structured to provide adequate time for member participation.

Member Communication Process

FDC Limited will send postal ballot notices through electronic means exclusively to members whose email addresses are registered with MUFG Intime India Private Limited, the company's registrar and transfer agent. Only members whose names appear in the Register of Members or List of Beneficial Owners as of the cut-off date will be eligible to participate in the voting process.

The company has engaged NSDL to provide remote e-voting facilities to ensure seamless participation by members in the decision-making process. This digital approach aligns with modern corporate governance practices and provides convenient access for shareholders to exercise their voting rights on this important corporate matter.