SHREE CEMENT LIMITED has informed the Exchange about receipt of GST demand order from the Joint Commissioner, Central Tax & Central Excise, Belagavi
SHREECEM · price
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Shree Cement has received a GST demand order from the Joint Commissioner of Central Tax & Central Excise, Belagavi, dated 23rd February 2026. The order alleges wrong availment of input tax credit and raises a tax demand of about Rs. 7.80 crore along with a similar penalty of Rs. 7.80 crore, taking total exposure to roughly Rs. 15.6 crore. The company has stated that the order has no major financial impact on its operations. It disagrees with the findings and plans to file an appeal under Section 107 of the Karnataka GST Act by 23rd May 2026.
While the company has downplayed the financial impact, the demand plus penalty of ~Rs. 15.6 crore is a near-term overhang. The stock may see mild negative sentiment, though the company's decision to appeal and the small size of the demand relative to its overall scale should limit the damage.