Panacea Biotec Subsidiary Receives ₹4.06 Crore GST Notice

Key Event

Panacea Biotec Limited's wholly owned subsidiary, Panacea Biotec Pharma Limited ("PBPL"), has received a Show Cause Notice dated July 23, 2026, from the office of the Assistant Commissioner, Goods and Services Tax ("GST"), Delhi.

Notice Details

• Authority: Assistant Commissioner, GST, Delhi
• Legal Basis: Section 73 of Delhi Goods & Services Tax / Central Goods & Services Tax Act & Rules, 2017
• Date of Receipt: July 23, 2026
• Applicable Period: Financial Year 2022-23

Material Contents of Notice

The Show Cause Notice alleges total tax liability of ₹4.06 Crore, comprising:

• Tax: ₹2.27 Crore
• Interest: ₹1.56 Crore
• Penalty: ₹0.23 Crore

Reason for Notice: Alleged excess claim of Input Tax Credit (ITC) in the Annual Return filed for Financial Year 2022-23.

Expected Financial Implications

PBPL is currently in the process of collating relevant details and preparing a draft reply against the notice received. According to the disclosure, PBPL does not foresee any adverse impact on its financial, operational, or other activities arising from this Show Cause Notice.

Current Status

The matter is currently at the Show Cause Notice stage only. No penalty, restriction, or sanction has been imposed pursuant to the communication at this time.

Actions Taken

PBPL is in the process of preparing a response against the Show Cause Notice.