Panacea Biotec Receives ₹22.88 Crore GST Demand

Panacea Biotec received a Demand Order dated March 30, 2026 from CGST Sub-Commissionerate Mohali raising ₹22.88 Crore in GST dues and penalty.
The demand comprises ~₹11.44 Crore alleged unpaid GST and ~₹11.44 Crore penalty on a ₹864 Crore Corporate Guarantee provided for 1,074 days.
Punjab & Haryana High Court has granted an interim stay against coercive action; company calls the demand not maintainable.