Announced Wed, 24 Jun · 23:13 IST
Tax appeal dismissed; company to approach GST Appellate Tribunal
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
timing
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AI summary
Shree Cement's appeal against SGST Patna tax demand was dismissed on technical reasons, reinstating two demand orders. Total tax demand of about Rs 38.49 crore, interest of about Rs 24.38 crore, and penalty of about Rs 3.85 crore. Alleged violations relate to valuation and excess input tax credit. The company says the order has no major financial impact and plans to appeal before the GST Appellate Tribunal.
Likely market impact
Litigation loss; however, company claims no major financial impact and will appeal at GST Appellate Tribunal. Watch for next hearing.