DIC India , a prominent player in the printing inks and allied products industry, has received a show cause notice from the West Bengal GST authorities, demanding payment of Rs. 5.55 crore. The notice, issued under section 73 of the West Bengal GST Act, 2017, comes as a result of alleged discrepancies in the company's tax filings for the financial year 2021-22.

Details of the Demand

The show cause notice, received on September 12, 2025, from the Joint Commissioner of Revenue, Large Taxpayer Unit, breaks down the demand as follows:

Allegations and Contentions

The GST authorities have raised several concerns regarding DIC India's tax practices:

1. Excess availment of Input Tax Credit (ITC)
2. ITC taken on blocked credits
3. Denial of ITC on imports
4. Alleged imposition of GST on exempted and non-GST supplies
5. Mismatch in ITC claimed

It's important to note that while the demand is substantial, no penalty has been imposed on the company at this stage.

Company's Response

DIC India Limited has stated that there is no material impact on its financial, operational, or other activities due to this notice. The company plans to respond to the show cause notice within the stipulated timeframe, providing relevant supporting documents to address the allegations.

In its disclosure to the stock exchanges, DIC India emphasized its commitment to compliance and transparency. The company will thoroughly review the notice and prepare a comprehensive reply to address each point raised by the GST authorities.

Market Implications

While the company maintains that the notice does not have a material impact on its operations, investors and market watchers will likely keep a close eye on how this situation unfolds. The resolution of this tax matter could have implications for DIC India's financial statements and potentially affect investor sentiment in the short term.

As the situation develops, stakeholders will be keen to see how effectively DIC India can address the concerns raised by the GST authorities and whether this will lead to any changes in the company's tax management practices going forward.

DIC India Limited continues to operate its business as usual while addressing this regulatory matter. The company's proactive disclosure and planned response demonstrate its commitment to addressing regulatory challenges transparently and promptly.

DIC India Limited, a prominent player in the Indian manufacturing sector, has initiated a postal ballot process to seek shareholder approval for the appointment of Mr. Navapol Chuensiri as a Non-Executive Non-Independent Director on its board. This move comes as part of the company's efforts to strengthen its leadership team and drive growth in the Asia Pacific region.

Key Details of the Appointment

• Appointment Date: Mr. Chuensiri was initially appointed as an Additional Director by the Board on August 13, 2025.
• Position: Non-Executive Non-Independent Director, liable to retire by rotation.
• Current Role: Deputy Regional Managing Director of DIC Asia Pacific Pte Ltd.

Voting Process

The company has outlined the following details for the e-voting process:

• E-voting Period: September 15, 2025 (9:00 AM) to October 14, 2025 (5:00 PM)
• Cut-off Date for Eligibility: September 5, 2025
• Result Declaration: On or before October 15, 2025

Professional Background

Mr. Navapol Chuensiri brings a wealth of experience to DIC India:

• Experience: 30 years of broad leadership experience in global companies
• Previous Associations: SIG Combibloc, Tetra Pak, Amcor, Goodyear Tyre & Rubber, and O-I Glass
• Board Experience: Former board member of SIG Combibloc and O-I Glass
• Education:
  • Bachelor's and Master's degrees in Mechanical Engineering from Oregon State University, USA
  • Master's degree in Organizational Communication

Strategic Importance

Mr. Chuensiri's appointment is viewed as strategic for DIC India's growth plans:

• Expected to support the development of a robust and sustainable structural platform
• Aimed at driving business growth in the Asia Pacific Region
• Brings international experience, having lived, studied, and worked across multiple countries

Shareholder Action Required

Eligible shareholders are encouraged to participate in the e-voting process through the National Securities Depository Limited (NSDL) e-voting system. The company has appointed Karan Arora & Associates as the scrutinizer to ensure a fair and transparent voting process.

DIC India Limited's move to appoint Mr. Navapol Chuensiri reflects the company's commitment to enhancing its board with experienced professionals. Shareholders now have the opportunity to vote on this significant appointment, which could potentially influence the company's strategic direction in the Asia Pacific market.