Gurugram, March 1, 2025 – DLF Limited (NSE: DLF, BSE: 532868) has disclosed that its material subsidiary, DLF Cyber City Developers Limited, has received an order from the Office of the Deputy Commissioner of State Tax (SGST), Gurugram (East), Government of Haryana. The order, issued under the Goods and Services Tax (GST) Act, imposes a penalty of ₹1.05 crore, in addition to a GST demand with interest.
Order Details & Alleged Violation
The action stems from the denial of Input Tax Credit (ITC) on plant and machinery related to both under-construction and operational commercial buildings intended for lease. The order, dated February 28, 2025, was communicated to the company at 7:33 PM on the same day.DLF’s Stance & Financial Impact
DLF has categorically stated that it does not agree with the order and intends to take appropriate legal action against the ruling. The company further clarified that the penalty will not have any material impact on its financials, operations, or other activities.This development follows the SEBI Listing Obligations and Disclosure Requirements (LODR) under Regulation 30, mandating the disclosure of material information that may impact shareholders and stakeholders.