SHREE CEMENT LIMITED has informed the Exchange that Company has received GST demand order from the Commissioner, Central GST & Central Excise, Jodhpur
SHREECEM · price
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Shree Cement has received a GST demand order from the Commissioner, Central GST & Central Excise, Jodhpur. The order demands service tax of Rs. 8,30,94,582 (approximately Rs. 83 crore) along with applicable interest and equivalent penalty. The demand relates to alleged non-payment of service tax. The company received this order on April 16, 2026. Management states the order does not have major financial impact on the company and that they do not agree with the demand. The company believes it has a strong case on merits and plans to file an appeal before the Tribunal under Section 86 of the Finance Act, 1994 by July 15, 2026.
While the demand amount is significant at Rs. 83 crore, the company considers it immaterial and is contesting the order. The stock is unlikely to see major reaction as the company has indicated robust grounds for appeal and expects to overturn the demand. However, any adverse outcome in the appeal could create liability.