Pidilite Industries has informed that the Company has received an Order dated 29th November, 2023, which was received by vide email on 29.11.2023 from the Additional Commissioner of CGST Commissionerate, Shimla imposing penalty of Rs 22,42,461 under applicable provisions of the Central Goods and Service Tax Act, 2017. GST department has disallowed the company’s claim on input credit claimed in Tran-1 during the year 2017-18. Based on the Company’s assessment, prevailing law and basis the advice of the external counsel, the Company reasonably expects a favourable outcome at the appellate level. There is no material impact on financials, operations or other activities of the Company. The aforesaid information is also being hosted on the website of the Company: www.pidilite.com.
