DIC India Limited has informed the Exchange about the receipt of order u/s 107(11) of the KGST (Karnataka GST) Act, 2017
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DIC India Limited has received an adverse order from the Joint Commissioner of Commercial Taxes (Appeals-8), Bangalore dated April 9, 2026. The order confirms a total GST demand of Rs.17,32,208 comprising GST of Rs.8,14,112, interest of Rs.8,36,684, and penalty of Rs.81,412 for the period July 2017 to March 2018. The demand arises from alleged mismatches between GSTR 2A and GSTR 3B returns, GST demand on recovery of R&D expenses from a foreign entity, and denial of Input Tax Credit on blocked credits. The company considers the order arbitrary and believes its appeal contentions were not properly considered. The company is reviewing the order and will decide on further action.
The company states there is no impact on financial or operational activities, but a total demand of Rs.17.32 lakh has been confirmed. The company may face cash outflow if the demand is not successfully challenged in higher appellate forums.