Pidilite Industries Limited Receives Order from the Assistant Commissioner of State Tax, Begumpet, STU-2, Telangana
April 16, 2024 at 08:39 am EDT
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Pidilite Industries Limited announced that the Company has received Order dated 16th April, 2024, which was received vide email from the Assistant Commissioner of State Tax, Begumpet, STU-2, Telangana imposing penalty of INR 30,000 as per the applicable provisions of the Central Goods and Service Tax Act, 2017. GST department has levied penalty for the disallowance of ITC availed 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 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 
