News Stocks GlaxoSmithKline Pharmaceuticals Receives ₹3.79 Crore GST Demand Order from Madhya Pradesh AuthoritiesGlaxoSmithKline Pharmaceuticals Receives ₹3.79 Crore GST Demand Order from Madhya Pradesh Authorities
GlaxoSmithKline Pharmaceuticals Limited has disclosed receiving a GST demand order worth ₹3,79,25,656 from Madhya Pradesh GST authorities dated 21st January 2026. The demand includes tax of ₹1,89,62,828 and penalty of ₹1,89,62,828, with interest not yet quantified, covering input tax credit issues for FY 2019-20 through FY 2022-23. The company states no impact on financial operations and is evaluating the order for appropriate action.
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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.
| Particulars: | Details |
|---|---|
| Total Demand: | ₹3,79,25,656 |
| Tax Component: | ₹1,89,62,828 |
| Penalty Component: | ₹1,89,62,828 |
| Interest: | Not quantified |
| Period Covered: | FY 2019-20 to FY 2022-23 |
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.
Historical Stock Returns for GlaxoSmithKline Pharmaceuticals
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.69% | +1.79% | +16.20% | -5.05% | +2.79% | +82.58% |
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