Mankind Pharma Limited has informed the stock exchanges that the Joint Commissioner of State Tax, State GST (Appeals), Nagpur, Maharashtra, has dropped a penalty demand of Rs 46,32,582 imposed earlier under the Central Goods and Services Tax (CGST) Act, 2017.
In an intimation, submitted to BSE Limited and the National Stock Exchange of India Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company stated that it has received an Order-in-Appeal dated February 16, 2026 in connection with its appeal against an earlier order passed by the Deputy Commissioner of State Tax, Nagpur, Maharashtra.
The appellate authority, namely the Joint Commissioner of State Tax, State GST (Appeals), Nagpur, Maharashtra, issued Order-in-Appeal No. 02/286 dated February 16, 2026. The order was passed against the Order-in-Original dated February 28, 2025, which had been issued under Section 73 of the Central Goods and Services Tax Act, 2017 for the financial year 2020-21. The earlier order had imposed a penalty demand of ₹46,32,582 on the company.
As per the latest order, the appellate authority has dropped the entire penalty demand of ₹46,32,582 that had been levied in the Order-in-Original.
The company clarified that the Order-in-Appeal dated February 16, 2026 was received in relation to the appeal filed by Mankind Pharma against the February 28, 2025 order.
In its detailed disclosure, the company stated that there are no violations or contraventions committed or alleged to have been committed in connection with the matter. It also clarified that there is no financial, operational, or other impact on the listed entity arising from the order, quantifiable in monetary terms.
