Glenmark Pharmaceuticals received a GST adjudication order for FY 2019-20 and 2020-21 from Mumbai East Commissionerate.
Order demands ₹16.05 crore GST (CGST/SGST), equivalent penalty of ₹16.05 crore, plus applicable interest on alleged short payment.
Company contests the demand, plans to appeal, and states no material impact on financials or operations.