Pfizer Limited has received a substantial GST demand order from West Bengal tax authorities, significantly higher than a previous demand from Uttar Pradesh. The pharmaceutical company has informed stock exchanges under regulatory disclosure requirements, maintaining that the latest demand lacks merit and plans to challenge it through appropriate legal channels.

Latest GST Demand Details

The Office of the Additional Commissioner of GST & CX, Jurisdiction: Kolkata, West Bengal issued an order dated December 27, 2025, following a GST audit conducted for Financial Years 2018-19 to 2022-23. The demand breakdown includes:

Nature of Violation Alleged

The Additional Commissioner raised the GST demand under Section 74 of the Goods & Services Tax Act, 2017. The primary issue centers on alleged incorrect availment of Input Tax Credit by the company during Financial Years 2018-19 to 2022-23. Tax authorities have questioned the company's Input Tax Credit claims across this extended period.

Previous GST Demand Context

This latest demand follows an earlier GST order from Uttar Pradesh authorities. The previous demand from the Office of Joint Commissioner, Corporate Circle, Lucknow involved:

Company's Response and Legal Strategy

Pfizer has rejected the validity of the latest demand order. Based on the company's internal assessment, management believes the GST demand is not maintainable under applicable tax laws. The company has initiated the process of filing an appeal against the order to contest the allegations, similar to its approach with the previous Uttar Pradesh demand.

Impact Assessment

Despite the significantly higher monetary value of the latest demand, Pfizer has clarified that the order will not materially impact its business operations. The company's assessment indicates:

• No material impact on financial performance
• No disruption to operational activities
• No effect on other business activities

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Additional details were provided in compliance with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, ensuring comprehensive information sharing with investors and regulatory authorities.

Pfizer Limited has announced a senior management personnel change, with Ms. Aditi Mehta resigning from her position as Category Lead-Vaccines. The pharmaceutical company informed stock exchanges about this development on December 23, 2025, in compliance with regulatory disclosure requirements.

Resignation Details

Ms. Aditi Mehta has tendered her resignation from Pfizer Limited effective January 2, 2026 (close of business). She is leaving the company to pursue opportunities outside Pfizer Limited. Following her resignation, Ms. Mehta will cease to be a Senior Management Personnel of the company from the effective date.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The resignation letter, as required under SEBI Listing Regulations 2015 and SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, was enclosed with the regulatory filing.

Stock Exchange Communication

Pfizer Limited communicated this personnel change to both major Indian stock exchanges on December 23, 2025. The notification was sent to BSE Limited (Scrip Code: 500680) and The National Stock Exchange of India Ltd (Scrip Symbol: PFIZER). The communication was signed by Prajeet Nair, Director-Corporate Services & Company Secretary.

In her resignation letter, Ms. Mehta expressed gratitude to the management and colleagues for their support during her tenure with the company. The resignation represents a routine senior management change as the employee transitions to new opportunities outside the organization.