New Delhi7 minutes ago
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The Sales Tax Department of Tamil Nadu has sent two big show-cause notices to Dalmia Cement (Bharat) Limited (DCBL), a subsidiary of Dalmia Bharat. Overall, tax and penalty of Rs 266.3 crore has been claimed on the company.
How many notices were received?
For the year 2019-20:
- Tax demand: ₹128.39 crore
- Penalty: ₹19.25 crore
- Total: Approximately ₹147.64 crore
For the year 2022-23:
- Tax demand: ₹59.32 crore
- Penalty: ₹59.32 crore (ie penalty equal to tax)
- Total: Approximately ₹118.64 crore
The total amount of both together is ₹266.3 crore.
What is the reason? The tax department has found something wrong in the taxable turnover (i.e. the part of sales on which GST is applicable) and Input Tax Credit (ITC) of the company in these two years. Meaning, there is a difference between the sales shown by the company and the input credit claimed. A notice has been issued regarding this.
Company said there will be no financial impact from this Dalmia Bharat has clearly stated in the information given to the stock exchange that these show-cause notices will not have any financial impact on the company. That means the company is confident that it will present its stand strongly and will not have to pay this money.
Dalmia Bharat shares rose 13% this year Dalmia Bharat shares have risen 13% in the last one year. At the beginning of the year 2025, its share was at Rs 1,771, which has now reached Rs 2,010. At the same time, the company’s shares have declined by 3% in the last 6 months.
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