Gufic BioSciences to appeal tax penalty for alleged discrepancies

Gufic BioSciences Limited announced on December 27, 2025, that it has received an order imposing penalties for alleged tax discrepancies. The order, issued by the Office of the Superintendent CGST, Range-07, Division II, Ghaziabad, pertains to the financial years 2018-19 to 2022-23.

The penalties include Rs.15,35,080/- for alleged excess Input Tax Credit (ITC) claimed, comprising IGST-Rs.1,94,612/-, CGST-Rs.6,70,234/-, and SGST-Rs.6,70,234/-. Additionally, a penalty of Rs.28,972/- (CGST: Rs.14,486/- +SGST: Rs.14,486/-) was imposed for short payment of tax liability. These penalties were levied under Section 74 of the CGST Act, 2017, UPGST Act, 2017, and Section 20 of the IGST Act, 2017.

Gufic BioSciences stated that it intends to file an appeal. The company believes that, based on its assessment, prevailing law, and legal counsel, it is hopeful of a favorable outcome and does not anticipate a material impact on its financial operations.