Dalmia Bharat has informed stock exchanges about a GST order received by its wholly owned subsidiary, Dalmia Cement (Bharat) Limited (DCBL), from tax authorities in Jharkhand. The disclosure was made under Regulation 30 of SEBI Listing Regulations on January 1, 2026.

GST Order Details

The Superintendent of CGST & CX, Range-II, Div-II of Bokaro, Jharkhand, issued the order under Section 74 of the Central Goods and Services Tax Act, 2017, read with Jharkhand Goods & Service Tax Act 2017. The order follows adjudication proceedings of a show cause notice regarding disallowance of Input Tax Credit (ITC) for the period spanning FY2018-19 to FY2022-23.

Company Response and Timeline

DCBL received the order on December 31, 2025, at 4:50 PM. The subsidiary has expressed confidence in contesting the order, stating it has good grounds to challenge the decision. The company plans to file an appeal against the order before the Appellate Authority within the prescribed timelines as mandated by GST regulations.

Financial Impact Assessment

According to the disclosure, the order does not have a major financial impact on DCBL. The company has clarified that any impact would be limited only to the extent of the aforementioned tax, interest, and penalty amounts. Dalmia Bharat has emphasized that DCBL has a strong case on merits to defend the matter before the Appellate Authority.

Regulatory Compliance

The disclosure was made in compliance with SEBI regulations, specifically Regulation 30 of the Listing Obligations and Disclosure Requirements Regulations, 2015. The company also provided detailed information as required under SEBI circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, which mandates specific disclosures for regulatory actions against listed entities or their subsidiaries.

The matter pertains to Input Tax Credit claims that were disallowed by the tax authorities for a five-year period, highlighting ongoing compliance challenges in the GST framework for large industrial operations.

Dalmia Bharat Limited has informed stock exchanges about a tax order received by its wholly owned subsidiary, Dalmia Cement (Bharat) Limited (DCBL), involving a total demand of ₹21.28 lakh comprising service tax and penalty.

GST Order Details

DCBL received an Order in Appeal from the Commissioner (Appeals), GST, CX & Customs, Bhubaneshwar Commissionerate, Odisha, under section 73(1) of Finance Act 1994. The order was issued following an appeal filed by the Assistant Commissioner, GST & Central Excise, Rourkela-I Division, Orissa.

Nature of Dispute

The tax demand pertains to assessment years 2016-17 and 2017-18 and centers on an alleged dispute regarding the levy of tax on grant of license by the State for drawing and use of natural river water for industrial use.

Company's Response Strategy

DCBL has indicated that it plans to appeal against the decision. The company maintains that the order does not have a major financial impact on DCBL, with the impact limited only to the extent of the aforementioned tax liability and penalty amount.

Regulatory Compliance

The disclosure was made in compliance with SEBI regulations, specifically:

• Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
• SEBI circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023

The company has provided detailed annexure information as required under the regulatory framework, confirming that no litigation exists against key management personnel or promoters, and no settlement has been reached in the matter.