Akzo Nobel India Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
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Akzo Nobel India received a GST demand order from the West Bengal GST Department in April 2024 for FY 2018-19, seeking Rs. 6.93 lakhs (tax of Rs. 3.33 lakhs, interest of Rs. 3.27 lakhs, and penalty of Rs. 0.33 lakhs) over a disallowed Input Tax Credit. The company filed an appeal, but the Additional Commissioner upheld the demand in March 2025. The company then opted for the GST Amnesty Scheme, paying only the tax component of Rs. 3.33 lakhs. On June 27, 2025, it received the amnesty order granting full waiver of interest and penalty, and the original demand order now stands annulled.
Favourable outcome for shareholders — the matter is fully closed with no interest or penalty liability, and the out-of-pocket cost is limited to a small tax payment of Rs. 3.33 lakhs. No material financial impact expected.