Deepak Fertilisers and Petrochemicals Corporation Limited announced a significant reduction in a tax demand previously raised against its subsidiary, Mahadhan AgriTech Limited. Following an application for rectification, the tax authority reduced the demand of ₹1.84 crore to only ₹1.04 lakh. This substantial reduction, equating to over a 99% decrease in the liability, was officially received via email from the Tax Authorities on March 25, 2026.
Rectification of Previous Tax Assessment
This announcement pertains to a material subsidiary, Mahadhan AgriTech Limited, concerning an assessment order issued by the Assistant Commissioner of Commercial Taxes (Audit)-6.3, DGSTO-6, Bengaluru. Previously, a disclosure dated 31st December, 2025, indicated a demand of ₹1,84,40,339 had been raised against the subsidiary.
Significant Liability Reduction
Subsequent to filing an application for rectification under Section 161 of the CGST Act, 2017, the Tax Authority has passed a rectification order. This order resulted in a dramatic reduction of the outstanding demand, decreasing the liability from ₹1,84,40,339 to just ₹1,04,048. This represents a reduction of over 99% of the original claimed amount.
Event Timing and Disclosure
The official receipt of this rectification order via email from the Tax Authorities occurred at 2:56 p.m. on March 25, 2026. The information has been duly disclosed in compliance with regulatory requirements and will be hosted on the Company’s official website, www.dfpcl.com.
Source: BSE
