Deputy Commissioner, State Tax, Mumbai, North West, Maharashtra Imposes Penalty on Pidilite Industries Limited
April 30, 2024 at 12:35 pm
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Pidilite Industries Limited announced that it has received Order dated 29th April, 2024 vide email dated 29 April 2024 issued by Deputy Commissioner, State Tax, Mumbai, North West, Maharashtra imposing a penalty of INR 537,494 in relation to the GST audit conducted for the year 2018-2019 as per the applicable provisions of the Central Goods and Service Tax Act, 2017. 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.
Pidilite Industries Limited is an India-based manufacturer of adhesives and sealants, construction chemicals, craftsmen products, DIY (Do-It-Yourself) products, and polymer emulsions. The Company, together with its subsidiaries, is focused on consumer and industrial specialty chemicals. The Company's segments include Consumer and Bazaar (C&B), Business to Business (B2B), and Others. The C&B segment covers the sale of products mainly to end consumers, which are retail users such as carpenters, painters, plumbers, mechanics, households, students and offices, among others. The Company's products include adhesives, sealants, art and craft materials and construction and paint chemicals. The B2B segment includes industrial products such as adhesives, synthetic resins, organic pigments, pigment preparations, construction chemicals (projects) and surfactants, among others. It caters to various industries, such as packaging, textiles, joineries, printing inks, paper and leather, among others.
PIDILITE INDUSTRIES LIMITED 
