Company Disclosure: GST Appellate Order Outcome

NSE Symbol: DICIND

Nature of Disclosure: Regulatory filing under Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding outcome of GST appeal proceedings for Financial Year 2021-22.

Background: This disclosure is in continuation of the company's previous filing dated November 25, 2025, regarding GST proceedings initiated by the Joint Commissioner, LTU, Corporate Division, West Bengal for FY 2021-22. The original order dated November 25, 2025 ("Original Order") had raised a total demand of ₹4,67,740/- on the company.

Appellate Outcome: The company preferred an appeal before the Sr. Joint Commissioner of Revenue, LTU (Appeal), West Bengal ("Appellate Authority"). The Appellate Authority, vide its order dated October 30, 2026, has partly allowed the appeal and substantially reduced the tax demand, interest, and penalty liabilities.

Key Reductions:

  • Original demand: ₹4,67,740/-
  • Reduced liability: ₹1,28,577/-
  • Reduction percentage: 72.5%

Breakdown of Reduced Liability:

  • Tax: ₹51,941/-
  • Interest: ₹46,636/-
  • Penalty: ₹30,000/-

Basis for Relief: The appellate authority accepted the company's submissions regarding eligibility of Input Tax Credit (ITC) on services availed in connection with its manufacturing activities. This resulted in setting aside a significant portion of the demand raised in the original order.

Alleged Violations: The original proceedings alleged:

  • Wrongful availment of Input Tax Credit (ITC) in respect of certain supplier credit notes
  • Availment of ineligible/blocked ITC under Section 17(5) of the CGST/WBGST Act, 2017 for FY 2021-22

Timeline of Events:

  • Original order date: November 25, 2025
  • Appeal filing: After November 25, 2025 (exact date not specified)
  • Appellate order date: October 30, 2026
  • Order received by KMP: October 31, 2026 at 11:34 am

Financial Impact Assessment: The company states that based on a preliminary assessment of the order, there are "no expected financial implications on the Company" other than as stated in this disclosure.

Regulatory Compliance: The disclosure is made in terms of SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, and Industry Standard Note on Regulation 30 of SEBI Listing Regulations.

Current Status: The company is evaluating the order, and appropriate actions, if required, will be taken within the stipulated time.

Certification: The disclosure is certified by Meghna Saini, Company Secretary, Compliance Officer & Head-Legal (Membership No. A42587) as true, correct, and complete to the best of her knowledge and belief.