DIC India Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
DICIND · price
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Awaiting price reaction for this filing.
DIC India Limited has received a demand order from the Assistant Commissioner of CGST, Noida under Section 73 of the UP GST Act, 2017. The total demand is ₹6,61,766, comprising GST of ₹6,01,606 and a penalty of ₹60,160, for the financial year 2021-22. The demand relates to alleged non-payment of GST on R&D fees recovered from a foreign entity through debit notes. The company is currently reviewing the order to determine its next course of action. The company has stated there is no material impact on its financial or operational activities.
The demand amount is very small (₹6.6 lakhs) relative to the company's size and is unlikely to have a meaningful impact on shareholders. Investors should watch for any further escalation or admission of the demand, but the disclosure appears to be a routine compliance update.