Pidilite Industries Faces Penalty of Rs. 1,54,93,209/- for GST Act Violations

Pidilite Industries Ltd. has received orders from the Assistant Commissioner (ST), Atchuthapuram Circle, Visakhapatnam II, Andhra Pradesh, imposing a penalty of Rs. 1,17,21,593/- for FY 2021-22 to 2023-24 and Rs. 3,76,616/- for FY 2024-25 under the Central Goods and Services Tax Act. The orders are appealable and the company is currently reviewing the order and evaluating the next steps. The company will make an assessment to exercise its right to appeal to the highest authority as permitted in law. There is no material impact on financials, operations, or other activities of the company.