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 covers multiple GST-related discrepancies across financial years 2020-21 to 2022-23, including credit notes not permissible under GST, unreconciled tax liabilities, deemed supplies without proper documentation, disallowance of trade discounts, mismatches between GSTR-2A and GSTR-3B for input tax credit, delayed GSTR 3B filings, discrepancies between GSTR-1 and GSTR-3B, ITC on wrong place of supply, and failure to discharge RCM liability. The proposed GST demand amounts to approximately Rs. 7.56 crore (IGST: Rs. 1.22 crore, CGST: Rs. 3.17 crore, SGST: Rs. 3.17 crore), plus applicable interest and penalties. The company is in the process of filing a reply to the notice.
This regulatory notice poses a financial risk of around Rs. 7.56 crore in GST demand plus interest and penalties. While the company is preparing a reply, any adverse outcome could impact the stock negatively due to the compliance and financial implications, though the amount is relatively modest for a large cement company.