Mumbai, February 5, 2025 – Pidilite Industries Limited (BSE: 500331, NSE: PIDILITIND) has disclosed that it has received an Order-in-Original from the Additional Commissioner, CGST, Delhi East, imposing a penalty of ₹6.44 crore under the Central Goods and Services Tax (CGST) Act, 2017.
Regulatory Action Details
- The penalty amount is ₹6,44,45,014/- (₹6.44 crore).
- It pertains to the period from July 1, 2018, to March 31, 2022.
- The order was issued on February 1, 2025, and was received by the company via email on February 3, 2025.
Company Response & Next Steps
Pidilite Industries has stated that the order is appealable, and the company is currently reviewing the details to determine the appropriate course of action.- Evaluation of Legal Recourse: The company is considering exercising its right to appeal before the highest authority as permitted under the law.
- Financial and Operational Impact: Pidilite has assured that there is no material impact on its financials, operations, or other activities due to this penalty.