Gufic Biosciences faces ₹15.64 lakh penalty; plans appeal.
Gufic Biosciences Limited has received an order under Section 74 of the CGST Act, 2017, and UPGST Act, 2017, along with Section 20 of the IGST Act, 2017. The order imposes a penalty of ₹15,35,080 for ...
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Why is Gufic Biosciences Limited in the news today?
Gufic Biosciences Limited (GUFICBIO) is in the news due to the company received a penalty but plans to appeal, and states it will not materially impact operations. the outcome of the appeal is uncertain.
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Gufic Biosciences faces ₹15.64 lakh penalty; plans appeal.
December 27, 2025, 04:46 PM
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Gufic Biosciences Limited has received an order under Section 74 of the CGST Act, 2017, and UPGST Act, 2017, along with Section 20 of the IGST Act, 2017. The order imposes a penalty of ₹15,35,080 for alleged excess Input Tax Credit (ITC) claimed and a penalty of ₹28,972 for short payment of tax liability.
The penalties are related to the financial years 2018-19 to 2022-23. The company has stated that it is not satisfied with the order and intends to file an appeal before the concerned authority. Gufic Biosciences confirms that this intimation has no material impact on its financial operations or other activities. The order was dated December 26, 2025, and received by the company via email on December 27, 2025. The authority issuing the order is the Office of the Superintendent CGST, Range-07, Division II, Ghaziabad.
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