Mumbai, February 28, 2025: Dollar Industries Limited (NSE: DOLLAR, BSE: 541403) has disclosed that it received demand orders from the GST authorities of Tamil Nadu, Odisha, and Bihar under the GST Act, 2017. The combined financial impact, including GST, interest, and penalties, amounts to ₹77.57 lakhs.
Financial Impact & Details:
| Fiscal Year | Authority | Order No. | Amount (₹ Lakhs) | Violation/Discrepancy |
|---|---|---|---|---|
| 2020-21 | SGST Tamil Nadu | ZD330225270412T | 58.36 | ITC availed discrepancies claimed by GST authority |
| 2020-21 | SGST Tamil Nadu | ZD330225269970A | 2.09 | ITC availed discrepancies claimed by GST authority |
| 2020-21 | SGST Odisha | ZD210225029238R | 13.09 | ITC availed discrepancies claimed by GST authority |
| 2020-21 | SGST Bihar | ZD100225037981P | 4.03 | ITC availed discrepancies claimed by GST authority |
| Total | 77.57 |
Corporate Commentary:
The company has clarified that these GST demand orders will have no material impact on its financial position, operational activities, or other business functions. It further indicated its intention to contest the demand orders by filing appeals before the Commissioner Appeals-GST Appellate Authority as per the GST Act.According to Abhishek Mishra, Company Secretary and Compliance Officer, Dollar Industries, "There is no significant financial or operational impact expected from these orders. The company will proactively appeal to the higher authorities to address the discrepancies raised by the GST authorities."