Pidilite Industries Receives CGST Penalty Order of Rs. 79,67,910
Pidilite Industries Limited has reported receiving an Order-in-Original imposing a penalty under the Central Goods and Service Tax Act, 2017. The penalty order was issued by the Joint Commissioner, CGST & C.Ex. Mumbai South.The penalty of Rs. 79,67,910/- pertains to the tax period spanning from 1st July, 2017 to 31st March, 2018.
The company has stated that the received order is appealable. Pidilite Industries is currently reviewing the Order and evaluating the next steps in the matter.
Regarding the operational standing of the firm, the company noted that the penalty has no material impact on its financials, operations, or other activities. The company is assessing its rights to appeal the decision to the highest authority permitted by law.
PIDILITIND Stock Price Movement
Today, Pidilite Industries Limited shares shed 0.32% of value to settle at ₹1390.5, marking a decline of ₹4.40 today. The stock saw significant participation, trading on a total volume of 894,803 shares.Source:
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