Pidilite Industries has informed that the Company has received Order dated 31st December, 2023, which was received vide email on 31.12.2023, from the Assistant Commissioner of State Tax, Royapettah, Chennai, Tamil Nadu imposing penalty of Rs 6,57,640 under applicable provisions of the Central Goods and Service Tax Act, 2017. GST department has levied penalty of for the disallowance of ITC availed as the same is not appearing in GSTR-2A as per provisions of the Central Goods and Service Tax Act, 2017 for the year 2017-18. Based on the Company’s assessment, 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. Copy of the Order was received by the Company via system generated email on 31.12.2023 on a holiday, post which the concerned employee was on leave and thereafter the Company upon examining and ascertaining the full facts of the Order, is filing the intimation at the earliest opportunity. The aforesaid information is also being hosted on the website of the Company: www.pidilite.com
The above information is a part of company’s filings submitted to BSE.
