Pidilite Industries Limited Receives an Order Issued by the Office of the Commissioner, Chandigarh Imposing a Penalty of INR 9,87,868 in Relation to GST audit
May 27, 2024 at 11:36 am
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Pidilite Industries Limited received an Order dated 21 May, 2024, which was received through speed post on May 24, 2024 (after the close of business hours), issued by the Office of the Commissioner (Appeals), Chandigarh imposing a penalty of INR 9,87,868 in relation to GST audit conducted for the period 2017-2018 under applicable provisions of the Central Goods and Service Tax Act, 2017. GST department has disallowed the Input Tax Credit claimed by the Company. 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 Receives an Order Issued by the Office of the Commissioner, Chandigarh Imposing a Penalty of INR 9,87,868 in Relation to GST audit
PIDILITE INDUSTRIES LIMITED 
