Dalmia Bharat Sugar and Industries Limited — Important, 21-02-2025: Disclosure of material issue

Dalmia Bharat Sugar and Industries Limited has received an order from the Superintendent (Range-1) Office of the Central Goods and Services Tax and Central Excise Division in Lucknow, demanding a payment of ₹11.16 lakh (Cr 0.1116) plus a penalty of ₹1.20 lakh (Cr 0.0120). The company is accused of wrongfully availing inadmissible Input Tax Credit during the financial year 2021-22. While this demand has immediate financial implications, the company believes it has a solid case to contest the order and plans to appeal to the Commissioner (Appeals) of CGST within the necessary timelines. Investors should note this situation and watch closely for further developments, as the outcome may impact financial stability.