JK Lakshmi Cement Ltd. has received an order from the Office of the Joint Commissioner of State Tax, Durg Division, Chhattisgarh, for the FY 2023-24. The order entails a tax demand of ₹179.19 Lakhs, interest of ₹33.46 Lakhs, and a penalty of ₹179.19 Lakhs regarding disallowed Input Tax Credit. The company has stated that this order has no material impact on its operations and intends to file an appeal with the Appellate Authority.
Details of the Tax Order
On April 30, 2026, JK Lakshmi Cement Ltd. received an official communication regarding a tax demand for the 2023-24 financial year. The order, issued by the Joint Commissioner of State Tax, Durg Division, Chhattisgarh, cites a discrepancy in Input Tax Credit claims.
Financial and Operational Impact
The total financial implication cited in the order includes a tax amount of ₹179.19 Lakhs, an interest component of ₹33.46 Lakhs, and a penalty equivalent to the tax amount at ₹179.19 Lakhs. Despite these figures, the company has clarified that the order is expected to have no material impact on the company’s financial health, ongoing operations, or general business activities.
Next Steps
In response to the order, the company management is currently in the process of preparing and filing an appeal before the appropriate Appellate Authority to contest the disallowed Input Tax Credit claims.
Source: BSE
