SHREE CEMENT LIMITED — Important, 01-02-2025: Updates

Shree Cement Limited has received a GST demand order from the Assistant Commissioner, GST Division - D, Pali, Rajasthan, amounting to Rs. 63.01 lakhs (63,01,494) along with an equal penalty of Rs. 63.01 lakhs. The order alleges wrongful availment of Input Tax Credit (ITC) related to cargo handling and warehousing services. However, the company indicates that the order will not have a major financial impact on its operations. Shree Cement plans to contest the demand and will file an appeal under section 107 of the CGST Act by the end of April 2025. Investors should keep an eye on this situation, though current implications appear manageable.