Jubilant Pharmova Ltd said its subsidiary Jubilant Generics Ltd has received a show-cause notice from the Uttarakhand GST authorities involving a demand of Rs 105.5 crore, including penalty, over alleged irregularities related to tax refunds.
The notice, issued by the Joint Commissioner, CGST Division, Roorkee, alleges that Jubilant Generics availed an IGST refund under Rule 96 while simultaneously claiming benefits under the Advance Authorisation Scheme during FY2020-21 and FY2021-22, which the authorities have stated was in violation of applicable rules.
The Advance Authorisation Scheme allows exporters to import inputs duty-free for use in manufacturing products meant for export.