Morepen Laboratories has received a show-cause notice from the Central GST & Central Excise Commissioner, Shimla. In the notice, the tax authorities alleged that the company had violated GST rules and erroneously claimed an excess GST refund amounting to Rs 1,17,94,03,452.
In an exchange filing, the company said that it has claimed the refund as per the provisions of the GST Act and the said show cause notice has no merit. The tax authorities haven’t imposed any penalty on the company yet.
Morepen Laboratories’ response
Morepen Laboratories said that it shall submit the necessary information, documents and explanation to the GST authority in support of its claim, within the prescribed period.
“The company is also reviewing and pursuing necessary legal advice for the resolution of this matter, to protect its interest.”, the company stated.
Morepen Laboratories share price
Morepen Laboratories’ stock closed at Rs 43.59 on Thursday, 2.08 per cent up in intra-day trade. In the past month, the company’s share price has declined by 9.56 per cent. Similarly, in the last 6 months and one-year period, Morepen Labs’ stock has fallen 31.69 per cent and 49.52 per cent, respectively.
Q2FY26 performance
In Q2 FY26, Morepen Laboratories reported a net profit of Rs 41 crore, compared to Rs 34 crore in Q2 FY25. However, during the same period, the company’s revenue declined to Rs 411 crore in Q2 FY26 from Rs 437 crore.
