Dalmia Bharat Limited has received the order under Section 122(1)(vii) of the Central Goods and Services Tax Act, 2017 read with SGST Act and IGST Act confirming penalty of ₹ 9,20,24,387/-, according to the exchange filing.
The Joint Commissioner, CGST & CX, Thane has imposed the penalty for allegedly availing ineligible ITC for the financial years 2017-20.
The Company is likely to challenge the order before an appropriate authority. “DCBL has a good case on merits to defend the matter before the Appellate Authority and will appeal against the said orders before the Commissioner (Appeals)/file Writ Petition before High Court within prescribed timelines,” Dalmia Bharat Limited said in the regulatory filing.
The disclosure before the exchange was under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
