According to a recent rectified order, the income tax demand on Panacea Biotec Ltd has been significantly reduced from 457.1 million rupees to zero, marking a substantial relief for the company.

Panacea Biotec has been issued a GST demand of approximately INR 22.9 crore, including penalties, for the period April 2019 to March 2022. However, the company has managed to secure an interim stay following a writ petition, which means no immediate financial or operational impact is expected.