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An update from Dalmia Bharat Ltd. ( (IN:DALBHARAT) ) is now available.
Dalmia Cement (Bharat) Ltd., a wholly owned subsidiary of Dalmia Bharat Ltd., has received two tax orders relating to disallowance of input tax credit for FY 2019-20 under the Central and state Goods and Services Tax Acts. Authorities in Uttar Pradesh and Jharkhand have raised combined tax demands of about Rs. 1.49 crore, along with equivalent penalties and applicable interest.
The company has stated it believes it has strong grounds to challenge both orders and plans to file appeals with the relevant appellate authorities within the prescribed timelines. While the amounts involved are not material relative to the scale of Dalmia Bharat’s operations, the dispute underscores ongoing GST compliance scrutiny in the cement sector and may be watched by investors for any precedent it sets on input tax credit treatment.
More about Dalmia Bharat Ltd.
Dalmia Bharat Ltd. is an India-based cement manufacturer operating through its wholly owned subsidiary Dalmia Cement (Bharat) Ltd., with a significant presence across key states and a focus on construction and infrastructure markets. The group supplies cement and related products to a broad base of retail, commercial, and infrastructure customers, making it a notable player in the country’s building materials sector.
Average Trading Volume: 27,049
Technical Sentiment Signal: Sell
Current Market Cap: 353.8B INR
Find detailed analytics on DALBHARAT stock on TipRanks’ Stock Analysis page.