Pidilite Industries Limited has received an Order dated 27 December, 2024 which was received vide email on 28 December, 2024 from the Joint Commissioner CGST & Central Excise, Indore imposing a penalty of INR 1,15,88,015 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. The Order is appealable and the Company is reviewing the Order and 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. Upon examining the Order and ascertaining full fact, the intimation is being filed at the earliest opportunity.
