Pidilite Industries receives GST order imposing penalty of Rs 16.03 cr

Pidilite said there is no material impact on financials, operations or other activities of the company due to the tax order

Pidilite Industries has received a tax order from the goods and services tax (GST) department imposing a penalty of Rs 16.03 crore, the company said in a regulatory filing on Friday.

 

"We wish to inform you that the company has received the Order-in-Original dated February 5, 2025 which was received vide mail on February 5, 2025 from the Additional Commissioner, Mumbai South imposing a penalty equal to demand of Rs 16,02,73,808/- under the applicable provisions of the Central Goods and Service Tax Act, 2017 for the period from July 1, 2018 to March 31, 2018," the company's disclosure read.

 

 

The company also said the order is appealable and it is evaluating the next steps in the matter. "The company will make an assessment to exercise its right to appeal to the highest authority as permitted in law. There is no material impact on financials, operations or other activities of the company," it said.

 

On December 30, 2024, Pidilite Industries received a tax order from the Joint Commissioner CGST and Central Excise, Indore, imposing a penalty of Rs 1.16 crore in relation to the GST Audit conducted for the year 2017-18, 2018-19 and 2019-20 under applicable provisions of the Central Goods and Services Tax Act, 2017.

 

Net profit of Pidilite Industries rose 8.22 per cent to Rs 552.42 crore in the October-December quarter, as against Rs 510.48 crore reported during the corresponding quarter of the previous fiscal.

 

At 1 pm, Pidilite Industries Ltd stock was trading at Rs 2,875.70 on BSE.