Drug firm Unichem Laboratories Ltd on Friday (January 24) said it has received an assessment order from the Joint Commissioner of CGST & CX, Thane Commissionerate, dated January 14, 2025. The order includes a demand for interest amounting to ₹6.59 crore and a penalty of ₹87.07 crore, totalling ₹93.66 crore.

“This is to inform that the company has received an assessment order from the Joint Commissioner CGST & CX, Thane Commissionerate,” Unichem Laboratories said in a regulatory filing.

The demand pertains to alleged contraventions under Section 13 of the CGST Act, 2017, and Rule 47 of the CGST Rules, 2017, citing delayed payment of tax liabilities. The penalty has been imposed under Sections 74(1) and 122(2)(b) of the CGST Act, 2017, and corresponding sections of the Maharashtra SGST Act, 2017.

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Unichem Laboratories has stated that the demand will not have any material, financial or operational impact on the company. “Because of this demand, there will be no material impact on financials, operations or other activities of the company,” it said.

The company asserted that the interest and penalty demands are not maintainable in law, as the tax liability was already paid on time. It plans to take all appropriate measures, including filing an appeal against the assessment order within the prescribed timelines.

“Based on the legal advice, the demand for interest and penalty is not maintainable in law, as the company had already paid the tax liability at the relevant point in time. Accordingly, the Company shall take appropriate steps including the filing of an appeal against the said Order within prescribed timelines,” Unichem Laboratories said.

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Shares of Unichem Laboratories Ltd ended at ₹733.30, up by ₹36.20, or 5.19%, on the BSE.