Valiant Laboratories Limited has received an order dated December 26, 2025, from the Office of the Assistant Commissioner of CGST & Central Excise, Navi Mumbai. The order pertains to the wrong availment of Input Tax Credit (ITC) on capital goods for the Financial Year 2021-22. The company had claimed depreciation on the GST component of capital goods, which the authority has deemed impermissible. This has resulted in a determination of wrongly availed ITC at ₹57,24,953. The alleged violations include the disallowance of ITC on capital goods due to non-fulfilment of conditions and the claim of depreciation on the tax component, reportedly in violation of Sections 16(2), 17(5), 73, 50, and 122(2)(a) of the CGST Act, 2017, read with applicable provisions of the IGST and MGST Acts. The period for which this communication is applicable is April 2021 to March 2022. The financial impact includes a tax demand of ₹57,24,953 and a penalty of ₹5,72,494, aggregating to a total of ₹62,97,447. Valiant Laboratories Limited is currently evaluating all available options, including the filing of an appeal against this order before the appropriate authority.