DMCC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
DMCC Speciality Chemicals received an order dated April 27, 2026 from the Additional Commissioner (Appeals Raigad) in a GST tax dispute. The Department had appealed an earlier order that had dropped a demand of Rs. 1,05,98,933 (approximately Rs. 1.06 crore) related to Input Tax Credit claimed on Works Contract Services. The appellate authority has now set aside the original order and held that the ITC of Rs. 1.06 crore is inadmissible under Section 17(5)(c) of the CGST Act, 2017. The company is ordered to pay this amount along with applicable interest and penalty. The company states it believes the demand is not maintainable and is in the process of filing a further appeal.
While the company claims no material financial impact, a tax liability of over Rs. 1 crore plus interest and penalties could affect cash flows if the appeal is not successful. Shareholders should monitor the outcome of the company's planned appeal.