J.B. Chemicals & Pharmaceuticals Ltd , (JB Pharma) has received an order from the State Tax Officer, Intelligence, Chennai, imposing a penalty of ₹80.81 lakh under the Goods and Services Tax (GST) Act, 2017.
The order, received by the company on March 18, 2026 at 7:23 pm, has been issued under Section 74 of the GST Act. It pertains to alleged reversal of tax liability arising due to differences between tax returns and books of accounts for the period April 2019 to March 2020.
The company disclosed that the action relates to discrepancies identified by the tax authorities between reported figures in statutory filings and internal financial records during the specified period.
However, J.B. Chemicals stated that it plans to file an appeal against the order and expressed confidence in achieving a favourable outcome at the appellate level.
Further, the company clarified that, based on its current assessment, it does not expect the order to have any material impact on its financial position, operations, or other business activities.
The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and has been submitted to stock exchanges including BSE.
According to the company, the matter pertains to regulatory proceedings and is being addressed through appropriate legal channels.
Source from: https://medicaldialogues.in/news/industry/pharma/jb-pharma-slapped-rs-8081-lakh-penalty-for-gst-violations-167004
