NSE/BSE Codes: BSE: 500089, NSE: DICIND

Summary of Key Information:

Nature of Event / Disclosure:

Regulatory disclosure under SEBI Listing Regulation 30 regarding receipt of final order from GST appellate authority. This is a follow-up to a previous disclosure made on December 31, 2025, regarding a GST demand order.

Involved Parties / Authorities:

  • Original Authority: Assistant Commissioner (in-situ), CGST, Range-23, Division-V, Noida
  • Appellate Authority: Additional Commissioner (Appeals), DIVISION II, BAREILLY:GAUTAM BUDDHA NAGAR: MEERUT: CBIC

Date / Timeline of Event:

  • Original Demand Order Date: December 30, 2025 (reference ZD091225542238A)
  • Initial Disclosure Date: December 31, 2025
  • Appeal Final Order Date: July 14, 2026 (reference ZD090726118479T)
  • Order Receipt Time: July 14, 2026 at 01:01 P.M. by KMPs
  • Disclosure Filing Date: July 14, 2026
  • Applicable Period: Financial Year 2021-22

Brief Description of Outcome / Dispute:

The company had received a demand order under Section 73 of UPGST Act imposing a total demand of ₹6,61,766 comprising of tax amount of ₹6,01,606 and penalty of ₹60,160. The allegation concerned non-payment of GST against recovery of R&D fees from foreign entities by issuance of Debit Notes. The company appealed this order before the Additional Commissioner (Appeals), Noida, who has now passed a final order in Form GST APL-04 fully setting aside the original demand.

Impact of Outcome:

Financial Impact:

No financial impact on the company as the order has been passed in favor of the company. The potential liability of ₹6,61,766 (comprising tax ₹6,01,606 and penalty ₹60,160) has been completely eliminated.

Operational / Business / Strategic Impact:

No impact on operation or other activities of the company as the matter has been resolved favorably.

Other Implications:

The resolution of this GST dispute eliminates potential compliance issues and legal contingencies that were previously disclosed.

Next Steps / Required Actions:

No further actions required as the matter has been fully resolved with the appellate order setting aside the original demand.