Pidilite Industries Limited has received an Order from the Joint Commissioner CGST & Central Excise, Indore imposing a penalty of ₹ 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, according to the Pidilite’s company filing.
The company is likely to appeal the order and challenge before the appropriate authority.”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,” Pidilite’s said.
The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
