Akums Subsidiary Gets Rs 53.5 Lakh GST Demand, Terms Order Not Maintainable

Akums Drugs & Pharmaceuticals has notified stock exchanges that its subsidiary Maxcure Nutravedics has been served a GST order from the Office of the Deputy Commissioner, Haridwar, Uttarakhand, determining a total demand of Rs 53.54 lakh. The order comprises tax of Rs 28.92 lakh, interest of Rs 21.72 lakh and penalty of Rs 2.89 lakh under Section 73(9) of the Goods and Services Tax Act, 2017.
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According to the disclosure, the dispute stems from input tax credit being disallowed because a vendor mentioned an incorrect place of supply while filing GST returns. The company became aware of the order for disclosure purposes on 25 December 2025 and is currently evaluating the matter, maintaining that the demand is not sustainable and that it will file an appeal within the prescribed time. Management has further clarified that the demand is not expected to have any impact on the financials, operations or other activities of the listed entity.

Key Highlights

• Authority issuing order: Office of the Deputy Commissioner, Haridwar, Uttarakhand.
• ​Total demand: Rs 53,53,541, including tax, interest and penalty.
• ​Reason: GST input tax credit disallowed due to incorrect place of supply mentioned by vendor.
• ​Order received on 24 December 2025; disclosure trigger at 9:30 a.m. on 25 December 2025.
• ​Company’s view: Demand considered not maintainable; no expected impact on financials or operations; appeal to be filed within statutory timelines.

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Sources: Akums Drugs & Pharmaceuticals Limited exchange filing to NSE and BSE dated 25 December 2025.