Panacea Biotec Receives Demand Order for ₹22.88 Crore
Panacea Biotec Limited announced it received a Demand Order dated March 30, 2026, from the Office of the Joint Commissioner, Central Goods & Services Tax (CGST) Sub-Commissionerate Mohali, Chandigarh. The demand aggregates to approximately ₹22.88 crore, encompassing ₹11.44 crore for alleged non-payment of Goods and Services Tax and ₹11.44 crore in penalties.The demand stems from a previous Show Cause Notice received on September 27, 2025, concerning the alleged non-payment of GST on a corporate guarantee of ₹864 crore provided for 1,074 days, from April 6, 2019, to March 15, 2022. The company filed a writ petition with the Punjab & Haryana High Court in November 2025, which has granted an interim stay order preventing coercive action against the company. Panacea Biotec also submitted a response to the Show Cause Notice on March 27, 2026.
According to the company, the demand is not maintainable, and they will take necessary steps. The company does not anticipate a relevant impact on its financial, operational or other activities.
Details of the Demand Order:
| Particulars | Details |
|---|---|
| Name of the Listed Entity | Panacea Biotec Limited |
| Date of Receipt of Communication | March 30, 2026 |
| Demand Amount | ~₹22.88 Crore (₹11.44 Crore GST + ₹11.44 Crore Penalty) |
| Period of Alleged Non-Payment | April 6, 2019 to March 15, 2022 |
| Actions Taken | Filed a writ petition with the Punjab & Haryana High Court; submitted response to Show Cause Notice |
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