Tax & Penalty31 Oct 2026, 08:40 pm
DIC India GST Demand Reduced to ₹1.28 Lakhs
AI Summary
DIC India Ltd has announced a significant reduction in its Goods and Services Tax (GST) demand following an appeal to the Sr. Joint Commissioner of Revenue. The original demand of ₹4,67,740/- for the Financial Year 2021-22 has been substantially reduced to ₹1,28,577/- (comprising Tax of ₹51,941/-, Interest of ₹46,636/-, and Penalty of ₹30,000/-). The reduction was primarily due to the appellate authority accepting the company's submissions regarding the eligibility of Input Tax Credit (ITC) on services related to its manufacturing activities. The company stated there is no expected financial implication beyond this disclosure.
Key Highlights
- GST demand reduced from ₹4.67 Lakhs to ₹1.28 Lakhs.
- Reduction follows successful appeal on Input Tax Credit eligibility.
- Original demand was for FY 2021-22.
- No further financial implications expected.
Price Impact
More from DICIND