Mankind Pharma Faces Rs 2 Crore GST Penalty Over Dispute

Mankind Pharma Ltd has been fined over Rs 2 crore by the Kolkata tax authority due to alleged GST discrepancies from FY18 to FY22. The company plans to appeal the decision, citing arbitrariness, but confirms no material impact on its financials or operations.

Mankind Pharma Ltd is in the spotlight following a GST-related penalty of over Rs 2 crore imposed by the tax authorities in Kolkata. The issue arises from alleged discrepancies in figures reported in the company's statutory returns for the financial years 2017-18 to 2021-22.

The penalty was issued on January 14, 2025, by the Office of the Commissioner of Kolkata South CGST & CX, as stated in Mankind Pharma's regulatory filing. According to the company, the GST Authority cited a mismatch in reported figures during its audit.

Mankind Pharma strongly contests the penalty, labeling it as arbitrary and unjustified, and plans to appeal the decision. The company reassures stakeholders that there is no significant impact on its financials or operations.

(With inputs from agencies.)