JSW Dulux Limited has received a Refund Order amounting to ₹10,81,413. This follows a previous Demand Order from the Karnataka GST Department for a penalty of ₹9,89,064. The company’s appeal, supported by necessary documents, led to the waiver of the penalty and annulment of the original demand order, including tax and interest components. This update pertains to litigation disclosed earlier and is in line with SEBI regulations.
Litigation Update: Refund Order Issued
JSW Dulux Limited (formerly Akzo Nobel India Limited) has provided an update regarding a pending litigation, as per SEBI regulations. The company has received a Refund Order dated 05.09.2026, which was received by the company on 07.09.2026. This development relates to a Demand Order issued by the Karnataka GST Department.
Details of the Demand and Refund
Previously, on December 30, 2024, the Karnataka GST Department issued a Demand Order for a penalty amount of ₹9,89,064 under Section 129(3) of the SGST Act/Rules, 2017, for the financial year 2024-25. This was due to a discrepancy involving an E-Way Bill and an Invoice. Following an appeal filed by the company with supporting documents, the Joint Commissioner of the LGSTO 38 in Bengaluru reviewed the submission. Consequently, a Refund Order was issued, totaling ₹10,81,413. This amount includes tax of ₹9,89,064 and interest of ₹92,349. The penalty of ₹9,89,064, as per the original Demand Order, has been waived.
Outcome of the Proceedings
As a result of the Refund Order, the original Demand Order issued by the Karnataka GST Department stands annulled. The company has affirmed that it is not applicable in the event of settlement of proceedings, compensation/penalty paid, or impact on the financial position in this specific instance, as the demand has been waived.
Source: BSE
