Akums Drugs and Pharmaceuticals' Subsidiary Faces Tax Penalty Set Aside by Appellate Authority
Akums Drugs and Pharmaceuticals Limited has confirmed that an order for imposing a tax penalty on its wholly-owned subsidiary, Maxcure Nutravedics Limited, has been set aside. The decision was made by the First Appellate Authority in Ahmedabad, Gujarat.The original penalty of INR 3,59,10,000/- had been imposed by the Deputy Commissioner of State Tax, Gujarat. This action was related to a violation where the shipping address was mistakenly entered incorrectly in the invoice and e-waybill for October 2025.
The First Appellate Authority delivered its order on July 3, 2026, overturning the penalty imposed on Maxcure Nutravedics Limited.
The details of the case are as follows:
| Particulars | Details |
|---|---|
| Name of the authority (Original) | Deputy Commissioner of State Tax, Appeal (1), Division 1, Ahmedabad, Gujarat. |
| Nature of Action | Orders for imposition of penalty of INR 3,59,10,000/ on Maxcure Nutravedics Limited. |
| Date of Authority Order | July 3, 2026. |
| Violation Details | Penalty was imposed due to the incorrect entry of a shipping address in the invoice and e-waybill for October 2025. |
| Financial Impact on Akums | There will be no financial impact on the Company. |
The successful appeal means that Maxcure Nutravedics Limited, which is a wholly-owned subsidiary of Akums Drugs and Pharmaceuticals Limited, has been relieved from the disputed penalty amount.
AKUMS Stock Price Movement
Akums Drugs and Pharmaceuticals Limited shares slipped by 0.89% on Friday, closing at ₹626.8 after shedding ₹5.65 in the sessions. The equity recorded a total traded volume of 123,722 as it digested market movements, following previous strength when the stock achieved its 52-week high.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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