Pidilite Industries Fined ₹16.03 Crore By CGST Mumbai South; Company Plans To Appeal

Adhesives and waterproofing giant Pidilite Industries has been imposed a penalty of Rs 16.03 crore from the Central Goods and Services Tax (CGST) Additional Commissioner, Mumbai South.

Pidilite has denied any material impact on financials, operations or other activities of the company due to the tax order. "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," the company said in regulatory filings.

Last December Pidilite Industries Limited faced a penalty of Rs 1.15 crore in relation to GST audit for 2017-18, 2018-19, and 2019-20.