Pidilite Industries announced the receipt of Orders-in-Appeal from the Deputy Commissioner of State Tax on March 5, 2026. These orders impose aggregate penalties totaling ₹42,31,567/- concerning GST assessments for Fiscal Years 2019-20 (₹26,40,843/-) and 2020-21 (₹15,90,724/-). The company is currently reviewing the orders to determine the necessary appeal strategy, assuring stakeholders that there is no material impact on financials or operations.
Tax Authority Penalties Confirmed
Pidilite Industries Limited has formally disclosed the receipt of two separate Orders-in-Appeal issued by the Deputy Commissioner of State Tax, Appeal. These orders, dated March 5, 2026, pertain to assessments under the Central Goods and Services Tax Act for earlier fiscal periods.
Breakdown of Imposed Penalties
The total financial imposition covers two specific financial years:
- For the Fiscal Year 2019-20, a penalty of ₹26,40,843/- has been levied.
- For the Fiscal Year 2020-21, an additional penalty of ₹15,90,724/- has been imposed.
The cumulative penalty amount across both years totals ₹42,31,567/-.
Company Response and Assessment
The company confirmed that these Orders are appealable. Management is currently engaged in a detailed review of the Orders and is evaluating the appropriate subsequent actions. Pidilite intends to exercise its legal right to appeal to the highest available authority. Crucially, the management has assessed the situation and stated unequivocally that the imposition of these penalties will result in no material impact on the company’s ongoing financials, operational efficiency, or other business activities.
This necessary disclosure is being made to the stock exchanges at the earliest practicable opportunity, following a full examination of the facts contained within the received documentation.
Source: BSE
