Alkem Labs gets GST demand notice from Uttarakhand authorities

New Delhi, Dec 4 (PTI) Alkem Laboratories on Thursday said it has received a GST demand notice of Rs 27.14 lakh from the Uttarakhand authorities.

The company has received an order under the Goods and Services Tax Act, 2017 from Dehradun Central Goods & Service Tax Division for the period from FY 2018-2019 to 2022-2023 demanding GST of Rs 27,14,603 along with a penalty of Rs 27,79,266, the drug firm said in a regulatory filing.

The authorities have also sought applicable interest under applicable provisions of the CGST/ SGST/ IGST Act, 2017, it added.

"The demand order mainly alleges excess availing of ITC. The company does not agree with the demand order and will contest the same,” it said.

Shares of the company on Thursday ended 2.54 per cent down at Rs 5,508 apiece on BSE. PTI MSS MSS DR DR