DIC India Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
DICIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
DIC India has received a show cause notice from the Assistant Commissioner, DGSTO-4, Bengaluru, demanding GST of about ₹3.83 crore plus interest of about ₹2.88 crore (total ~₹6.71 crore) for FY 2021-22. The allegations are non-payment of GST on outward supplies and wrongful/excess claim of ineligible input tax credit (ITC). The company argues the notice has clerical errors — the officer appears to have treated the 'taxable value' of ₹3.65 crore as 'tax' when arriving at the demand. No penalty or order has been imposed yet; the company plans to file a reply and appear for a personal hearing within the stipulated time.
This is only a show cause notice, not a final order, so there is no immediate financial liability. The company has publicly called the demand flawed and intends to contest it, which limits the downside risk. Shareholders should watch for the next hearing outcome — if the demand sticks, it could dent earnings; for now, the impact is contingent and likely limited.