Dalmia Cement (Bharat) Limited (DCBL), a wholly-owned subsidiary of Dalmia Bharat Limited, has received a waiver for interest of ₹11,14,515 and penalty of ₹1,22,733.
These amounts were related to an earlier order under Section 73 of the Central Goods and Services Tax Act, 2017, concerning Input Tax Credit (ITC) mismatch, non-filing of GSTR-3B by suppliers, and interest liability on late reversal of ITC for the tax period from July 2017 to March 2018.
The waiver was granted by the Office of Assistant Commissioner of State Tax, Rourkela II Circle, Panposh, Odisha, after DCBL filed an application under Section 128A of the Central Goods and Services Tax Act, 2017.
The order was received on 23 June 2025.
This development will have no financial impact on DCBL.
Dalmia Bharat Limited announced that the Office of Assistant Commissioner of GST & Central Excise, Bokaro-II Division, Ranchi, Jharkhand, has waived off certain interest and penalties for Dalmia Cement (Bharat) Limited (DCBL), a wholly-owned subsidiary.
The interest of ₹23,56,554 and penalty of ₹5,23,966 pertaining to FY 2018-19 have been waived.
Additionally, a penalty of ₹20,000 pertaining to FY 2019-20 has been waived, as the tax liability was already paid by DCBL.
Dalmia Cement (Bharat) Limited (DCBL), a wholly-owned subsidiary of Dalmia Bharat Limited, has received an order from the Office of Assistant Commissioner of GST & Central Excise, Rourkela-I Division, Odisha, waiving off interest and penalty previously confirmed.
The waiver, received on June 10, 2025, is for an appeal filed under Section 128A of the Central Goods and Services Tax Act, 2017.
The waived amounts include interest of ₹5,60,148 and a penalty of ₹56,015, which were earlier confirmed by an order from the Superintendent, Central GST and Central Excise, Rajgangpur Range, Odisha.
This outcome means there will be no financial impact on DCBL.
Dalmia Bharat Limited informed shareholders about Tax Deduction at Source (TDS) provisions for the final dividend of ₹5 per equity share (face value ₹2) for FY 2024-25, recommended on April 23, 2025.
For resident shareholders, TDS will be deducted at 10% if PAN is registered; otherwise, it will be 20%. No tax will be deducted if the total dividend received during FY 2025-26 does not exceed ₹10,000 or if Form 15G/15H is provided.
Non-resident shareholders will face withholding tax as per Section 195 of the Income Tax Act, 1961, with rates varying based on the type of shareholder and applicable Double Tax Avoidance Agreements (DTAA).
Shareholders must submit relevant documents, including PAN details, Tax Residency Certificates, and Form 10F, by June 23, 2025, to avail of treaty benefits or lower TDS rates.
The company is not obligated to apply beneficial DTAA rates if documents are incomplete or not satisfactorily reviewed.
Dalmia Bharat Limited's 12th Annual General Meeting (AGM) is scheduled for Monday, June 30, 2025, at 11:30 A.M. IST, to be held via Video Conferencing (VC) / Other Audio Visual Means (OAVM).
Newspaper advertisements related to the 12th AGM, Record Date, e-voting, and other associated information were published on June 7, 2025, in Financial Express (English) and Dinamani (Tamil).
The cut-off date for determining eligibility for e-voting for the AGM is June 23, 2025.
Remote e-voting will commence on Thursday, June 26, 2025, at 09:00 A.M. (IST) and conclude on Sunday, June 29, 2025, at 05:00 P.M. (IST).
The Annual Report for the financial year 2024-25 has been sent electronically to all shareholders.
M/s JVS & Associates, represented by Mr. Jyoti Sharma, has been appointed as the Scrutinizer for the remote e-voting and e-voting conducted at the AGM.
In a separate development, the company, through Religare Asset Reconstruction Company Limited, has initiated recovery proceedings under Section 13(2) of the SARFAESI Act, 2002, for non-performing assets (NPAs).
A demand notice was issued to M/s. Hija Exports Private Ltd. and its guarantors for an outstanding amount of ₹6,67,56,95,763.36 (Rupees Six Hundred Sixty-Seven Crore Fifty-Six Lakh Ninety-Five Thousand Seven Hundred Sixty-Three and Thirty-Six Paisa) as of April 29, 2025. This loan was declared an NPA by Indian Bank on March 30, 1996, with mortgaged properties including residential flats in Chennai.
Another demand notice was issued to Sri Sai Nath & Company and Mr. Suresh Kumar for an outstanding amount of ₹35,63,256.15 (Rupees Thirty-Five Lakh Sixty-Three Thousand Two Hundred Fifty-Six and Fifteen Paisa) as of June 14, 2024. This loan was declared an NPA by Indian Overseas Bank on March 31, 2016, with mortgaged properties including residential plots in Tiruvallur district.
The borrowers/guarantors are required to repay the full outstanding amount within 60 days from the date of the respective notices, failing which the security interests will be enforced as per the SARFAESI Act. Any sale, lease, or transfer of the secured assets is prohibited.