Key Quantitative Figures
The original Demand Order dated 28th August 2024 mentioned a total demand of ₹77,13,373/-, comprising:
- Tax: ₹70,12,157/-
- Penalty: ₹7,01,216/-
- Interest: Nil
The Appeal Order dated 8th October 2026 set the demand amount to Nil, fully annulling the previous order.
Dates of Action
- Original Demand Order issued: 28th August 2024
- Appeal filed by company: Within stipulated time limit after August 2024
- Appeal Order issued: 8th October 2026
- Appeal Order received by company: 13th October 2026 at 5:40 pm
- Previous disclosure made: 29th August 2024
- Current disclosure date: 14th October 2026
Parties Involved
- JSW Dulux Limited (formerly Akzo Nobel India Limited)
- Madhya Pradesh GST Department
- Commissioner of Appeals, Madhya Pradesh GST Department
- BSE Limited (Scrip Code: 500710)
- National Stock Exchange of India Ltd. (Symbol: JSWDULUX)
Financial Impact
The Appeal Order has resulted in a nil financial impact on the company. The previously disclosed contingent liability of ₹77,13,373/- stands annulled.
Purpose/Rationale
The disclosure is made to comply with SEBI listing regulations requiring regular updates on the status of pending litigation until conclusion or resolution.
Additional Context
The matter pertains to disallowance of Input Tax Credit (ITC) for the period from July 2022 to March 2023. The company had filed an appeal with supporting documents against the original demand order.
#Tags: #JSWDulux #GST #TaxDispute #SEBIDisclosure #RegulatoryCompliance #Positive