GlaxoSmithKline Pharmaceuticals Limited has disclosed to stock exchanges that the Directorate of Revenue Intelligence conducted a search at its registered office in Mumbai. The pharmaceutical company made this disclosure under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015.

Search Details and Timeline

The search was initiated by the Directorate of Revenue Intelligence, Department of Revenue, Government of India, under the provisions of Section 105 of the Customs Act, 1962. The proceedings began on February 27, 2026, and were completed on February 28, 2026.

Company Response and Operations

GlaxoSmithKline Pharmaceuticals stated that company officials extended full cooperation to the department and responded to all queries raised during the search. The company emphasized that its business operations continue as usual without any disruption.

Regulatory Compliance

The disclosure was made in compliance with regulatory requirements, with the company informing both BSE Limited and the National Stock Exchange of India Limited about the proceedings. The company confirmed that the search has been completed and there is no impact on its financial, operational, or other activities.

The communication was signed by Ajay Nadkarni, Vice President – Administration, Real Estate & Company Secretary, on February 28, 2026, ensuring timely disclosure to stakeholders and regulatory authorities.

GlaxoSmithKline Pharmaceuticals Limited has informed stock exchanges about receiving a GST demand order from Madhya Pradesh authorities under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015. The pharmaceutical company received the order on 21st February 2026 and disclosed the matter to BSE and NSE on 23rd February 2026.

GST Demand Details

The Deputy Commissioner of CGST & Central Excise, Division-III, Indore issued the order dated 21st January 2026, disallowing certain GST credits in Madhya Pradesh State. The demand order covers multiple financial years and involves significant amounts related to input tax credit issues.

Nature of Violations

The GST authorities have raised the demand for financial years 2019-20, 2020-21, 2021-22, and 2022-23 on account of input tax credit related issues. The order specifically addresses contraventions related to GST credit claims that the authorities have deemed inadmissible under the applicable regulations.

Company's Response and Impact

GlaxoSmithKline Pharmaceuticals has stated that there is no impact on the financial operations of the company. The management is currently evaluating the demand order and will take appropriate actions in due course. The company received the order on Saturday, 21st February 2026, and filed the disclosure on Monday, 23rd February 2026, adhering to regulatory compliance requirements.

Regulatory Compliance

The disclosure was made in compliance with Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015, which mandates listed entities to inform stock exchanges about material events that could impact the company's operations or financial position. The company has provided all relevant details as required under the regulatory framework, including the nature of violations, quantum of demand, and potential impact assessment.