Announced Wed, 24 Jun · 23:11 IST
SGST appeal dismissed; tax demand of about Rs 38.5 crore reinstated
SHREECEM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-3.5%1-day move
₹26085.00
prior close
₹26085.00
base price
After-mkt
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AI summary
Shree Cement's appeal against two SGST Patna demand orders was dismissed on technical grounds, reinstating combined tax demand of about Rs 38.5 crore, interest of about Rs 24.4 crore, and penalty of about Rs 3.85 crore. The orders relate to alleged excess ITC and valuation issues. The company says there is no major financial impact and will file a further appeal before the GST Appellate Tribunal.
Likely market impact
Mildly negative - tax demand reinstated on technical grounds, but company plans further appeal and says no major financial hit.