SENSATIONAL: GST finds Shark Tank Namita Thapar’s Emcure Pharma wrongly claiming credit; fined
NEW DELHI/JAMMU/PUNE: An ongoing investigation by the GST authorities in India has spelt trouble for the businesswoman Namita Thapar and her pharma company Emcure for wrongly seeking credit of the tax deposit over the invoices raised in 2017.
Emcure Pharma, with a revenue of Rs 7,000-odd crore, is a company that was started by Thapar’s father Satish Mehta, who at present serves as its chairman. The company had got listed only last year.
In one order as recent as 2024, the appellant authority of central tax in Pune has slapped a recovery of Rs 1.05 crore on Emcure, while determining that it is a civil obligation to pay this fine after finding that the CENVAT (Central Vat ) deposit by Emcure and claimed as GST is not admissible.
“As regards penalty imposed under Section 122(2)(a) of the Act, the appellant (Emcure) has availed inadmissible Input Tax Credit of CGST of Rs 95,57,439/- in contravention of the provisions of Section 140(5) of the Act and rendered themselves liable for 10% penalty of Rs.9,55,744/- under Section 122(2)(a) of the Act,” the order has said.
Namita who has appeared on a TV show Shark Tank, did not reply to the queries by The New Indian over text messages sent to her personal secretary Tanya Raheja
In another case, GST authorities are trying to ascertain if Emcure rightly claimed Rs 5.22 crore as credit for more than 746 invoices on procurement of goods in Jammu and Kashmir for the period between July 2017 to December 2017.
