Glenmark Pharmaceuticals Receives GST Order, Plans Appeal
Glenmark Pharmaceuticals Ltd. announced it received an adjudication order from the Joint Commissioner of Central Goods & Service Tax and Central Excise, Mumbai East Commissionerate, on March 26, 2026. The order, communicated via email on March 31, 2026, relates to the financial years 2019-20 and 2020-21.The order alleges that a transaction involving the sale of a brand in fiscal year 2020-21 should be treated as a mixed supply and assessed for a higher rate of Goods and Services Tax (GST). The total demand includes Rs. 16,05,41,509 in CGST/SGST, applicable interest, and Rs. 16,05,41,509 in penalties.
Glenmark Pharmaceuticals stated it does not agree with the demand and intends to file an appeal with the appropriate authority. The company indicated that the order is not expected to have a material impact on its financial performance, operations, or other activities.
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