Shipping Corporation Of India Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
SCI · price
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Awaiting price reaction for this filing.
Shipping Corporation of India (SCI) has received an order from the Joint Commissioner of State Tax (Appeal-VI), Mumbai dated 12th June 2025, confirming a revised tax demand of approximately ₹23.07 crore (tax component of ~₹10.56 crore plus interest and penalty). The dispute relates to a mismatch of Input Tax Credit (ITC) with GSTR-2A under GST. The company had previously filed an appeal against an earlier order from the Deputy Commissioner of State Tax. SCI is now reviewing the order, plans to explore all legal options including filing a further appeal, and states it believes the case has strong merit.
The upward revision of the tax demand is adverse at this stage, but the financial impact remains contingent on the outcome of further appeals. Shareholders should monitor the next steps as a final adverse ruling could result in a cash outflow of ~₹23 crore, which is material relative to SCI's earnings, while a favorable appeal outcome would relieve this overhang.