Shree Cement has received a GST demand order from the Joint Commissioner, Central Tax & Central Excise, Belagavi, Karnataka. The order confirms a tax demand of Rs. 5,69,79,574/- along with a penalty of the same amount, totaling Rs. 11,39,59,148. The company plans to appeal the order within three months.
Details of GST Demand
Shree Cement has been issued a GST demand order by the Joint Commissioner, Central Tax & Central Excise in Belagavi, Karnataka. The order, received on December 19, 2025, relates to the availment of ineligible input tax credit.
Financial Implications and Response
The demand order confirms a tax demand of Rs. 5,69,79,574/-, with an equivalent penalty of Rs. 5,69,79,574/- also imposed. While the company acknowledges the receipt of the order, it does not agree with the contentions made and intends to appeal against it.
Planned Appeal
Shree Cement plans to file an appeal under Section 107 of the Karnataka GST Act. The appeal will be filed on or before March 19, 2026, which is within three months from the date the order was communicated. The company believes that this order does not have a major financial impact.
Source: BSE