Dalmia Bharat Limited has informed the Exchange about Disclosure under Regulation 30 of the SEBI (Listing Obligations and DisclosureRequirements) Regulations, 2015 ( Listing Regulations )
DALBHARAT · price
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Awaiting price reaction for this filing.
The Additional Commissioner State Tax (Appeal), Patna has upheld an earlier GST order against Dalmia Bharat's wholly owned subsidiary, Dalmia Cement (Bharat) Limited (DCBL), confirming a tax demand of Rs. 66.96 lakh plus an equal amount as penalty, along with interest. The dispute relates to Input Tax Credit claimed by DCBL on invoices from a supplier who allegedly failed to pay the outward tax liability between October 2019 and January 2020. DCBL had appealed the original order (issued under Section 74 of the CGST Act and Bihar GST Act) and the first appeal has now been decided against it. The company has stated it has good grounds to contest and will file a second appeal before higher appellate authorities. Management has clarified that the order does not have a major financial impact on DCBL, limited only to the disputed tax, interest, and penalty amount.
This is a minor litigation setback for the subsidiary, with the total exposure of roughly Rs. 1.34 crore (tax plus penalty) plus interest being described by the company as not materially significant. The stock is unlikely to see meaningful reaction, though investors should track the second appeal outcome.