Please find enclosed intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements)Regulations, 2015.
JSWCEMENT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
JSW Cement has received a Demand-cum-Show Cause Notice from the Additional Commissioner Central Tax (Audit), Patna under Section 74 of the CGST Act 2017. The notice pertains to multiple GST compliance issues across FY 2020-21 to FY 2022-23 including alleged credit notes not permissible under GST, unreconciled tax liability between books and GSTR-9, deemed supplies without proper substantiation, impermissible trade discounts, excess ITC claimed, delayed GSTR 3B filings, and failure to discharge RCM liability. The department has proposed a total GST demand of approximately Rs. 7.56 crore comprising IGST of Rs. 1.22 crore and CGST/SGST of Rs. 3.17 crore each. The company states it is in the process of filing a reply to the notice.
This is a regulatory compliance matter involving a modest tax demand of Rs. 7.56 crore. While the company intends to contest the notice, any adverse outcome could result in additional tax liability plus interest and penalties. The filing indicates a routine GST audit process and is not expected to materially impact operations.