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The latest announcement is out from Dalmia Bharat Ltd. ( (IN:DALBHARAT) ).
Dalmia Cement (Bharat) Limited, a wholly owned subsidiary of Dalmia Bharat Limited, has received an appellate order from the Commissioner (Appeals), GST, CX & Customs, Bhubaneswar, raising a service tax demand of Rs 10.59 lakh and a penalty of Rs 10.69 lakh for FY 2016-17 and 2017-18, linked to an alleged tax liability on state-granted licences to draw and use natural river water for industrial purposes. The company maintains that it has strong grounds to contest the levy and plans to challenge the order before the Customs, Excise and Service Tax Appellate Tribunal within the prescribed timelines, while asserting that the financial impact of the order is not material and is limited to the specified tax and penalty amount, suggesting minimal implications for its overall operations and balance sheet.
More about Dalmia Bharat Ltd.
Dalmia Bharat Limited is a leading Indian cement manufacturer operating through its wholly owned subsidiary Dalmia Cement (Bharat) Limited, with a strong presence in key regional markets and a focus on supplying cement for infrastructure and construction projects across the country.
Average Trading Volume: 18,392
Technical Sentiment Signal: Buy
Current Market Cap: 405.4B INR
For a thorough assessment of DALBHARAT stock, go to TipRanks’ Stock Analysis page.