Shree Cement gets GST demand order of about Rs 5.7 crore plus equal penalty from Karnataka
SHREECEM · price
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Shree Cement received a GST demand order from the Joint Commissioner, Central Tax and Central Excise, Belagavi, Karnataka, confirming a tax demand of Rs 5,69,79,574 along with an equal penalty of Rs 5,69,79,574. The allegation is availment of ineligible input tax credit. The company says the order has no major financial impact, contests the claims, and will file an appeal before 19 March 2026.
Total exposure is about Rs 11.4 crore. Company says impact is not major and will appeal. Watch for appeal outcome.