Glaxosmithkline Pharmaceuticals has informed that the Company has received a Notice from Kerala State GST authorities, seeking to disallow transitional Excise duty credit (TRAN 1 credit) claimed in Kerala State. Relevant details are enclosed. Since this issue in procedural in nature, the Company is settling the issue basis internal assessment. There is a penalty of Rs.40,635 which is also procedural in nature under Section 73 of GST Act and not specific to any suppression, willful misstatement done by the Company.
The above information is a part of company’s filings submitted to BSE.
