Pidilite Industries Limited Receives Order from Assistant Commissioner, Tollygunge Division, Kolkata South Commissionerate
April 29, 2024 at 06:21 am EDT
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Pidilite Industries Limited has received Order dated 10th April, 2024, which was received vide registered post on 26th April 2024 post office hours from the Assistant Commissioner, Tollygunge Division, Kolkata South Commissionerate imposing penalty of INR 1,061,184 /- under applicable provisions of the Central Goods and Service Tax Act, 2017. GST department has disallowed the Input Tax Credit claimed by the Company as the same is not appearing in GSTR-2A as per provisions of the Central Goods and Service Tax Act, 2017 for the year 2018-19. Based on the Company's assessment, the Company reasonably expects a favorable 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 
