SHREE CEMENT LIMITED — Important, 24-02-2025: Updates

The company has received a GST demand order from the Deputy Commissioner in Patna, Bihar. The demand totals approximately ₹23.56 crore for tax, along with interest of about ₹15.19 crore and a penalty of around ₹2.36 crore. The order claims violations related to valuation and excess input tax credit (ITC) availed. However, the company asserts that this order will not have a significant financial impact. They plan to contest the demand by filing an appeal under the Bihar GST Act within the stipulated timeline, suggesting they are prepared to address the issue and mitigate risks. Investors should watch closely for updates on this matter as it develops.