Panacea Biotec Subsidiary Receives Show Cause Notice Over Alleged Input Tax Credit Claim
Panacea Biotec Limited's wholly owned subsidiary, Panacea Biotec Pharma Limited (PBPL), has received a Show Cause Notice (SCN) related to tax liability following an alleged excess claim of Input Tax Credit (ITC). The notice was issued by the Assistant Commissioner, Goods and Services Tax (GST), Delhi.The SCN was dated July 23, 2026, pertaining to the Financial Year 2022-23.
According to details provided, the GST authority has alleged a total tax liability of ₹4.06 Crore. This amount includes components for tax, interest, and penalty. The breakdown is as follows:
| Component | Amount (₹) |
|---|---|
| Tax Liability | 2.27 Crore |
| Interest | 1.56 Crore |
| Penalty | 0.23 Crore |
The authority has specifically identified the alleged aberration as a claim of excess ITC during the filing of the Annual Return for the financial year 2022-23, under Section 73 of the Delhi Goods and Services Tax / Central Goods and Services Tax Act and Rules, 2017.
Regarding the expected financial implications on the listed company, PBPL has stated that it does not foresee any adverse impact arising from this SCN on its financial, operational, or other activities.
In response to the matter, PBPL is currently in the process of collating relevant details and preparing a draft reply against the notice received from the Assistant Commissioner, GST, Delhi. The company confirmed that the current situation is at the SCN stage only.
PANACEABIO Stock Price Movement
Shares of Panacea Biotec Limited are shedding value as of 9:52 AM, with the stock trading down by 1.66% and currently priced at ₹438. The equity continues to trade near intraday lows, remaining above ₹437.2 amidst a daily volume of 32,844 shares.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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