Shree Renuka Sugars Limited — Others, 25-02-2025: Action(s) taken or orders passed

Shree Renuka Sugars Limited has received a penalty order of ₹27.03 crore from the Deputy Commissioner of State Tax in Kolhapur for alleged non-payment of Goods and Services Tax (GST) on in-house steam supplied to its co-generation unit during FY 2020-21. The company asserts it has a solid basis for disputing the order and intends to appeal to the Appellate Authority. Management believes the penalty will not adversely affect its financial or operational activities. This development may lead to a cautious investor sentiment, but the company's stance suggests a potential positive outlook if the appeal is successful.