Pidilite Industries Limited Receives Orders from the Assistant Commissioner of State Tax
May 10, 2024 at 02:16 am
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Pidilite Industries Limited has received Orders dated 9th May, 2024, which were received through email on 9th May, 2024 from the Assistant Commissioner of State Tax, INV-D-038, Mazgaon, Mumbai imposing a total penalty of INR 7,005,912 /- in relation to GST investigation conducted for the Fiscal Year 2020-21, Fiscal Year 2021-2022,FY 2022-23 and for the period 01 April 2023 to 31 October 2023 under applicable provisions of the Maharashtra Goods and Services Tax Act, 2017 and Central Goods and Service Tax Act, 2017. 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 
