SHREE CEMENT LIMITED — Important, 14-01-2025: Updates

The company has received a GST demand order from the Assistant Commissioner, CGST Panipat Division, Haryana. The order includes a demand of ₹2.37 lakh along with a penalty of ₹33.87 lakh, related to the alleged wrong availment of Input Tax Credit (ITC) concerning manpower supply and repair of a residential colony. Despite this demand, the company assesses that it will not face any significant financial impact. They do not agree with the findings and plan to file an appeal under Section 107 of the Haryana GST Act by April 13, 2025. Investors should watch closely as the appeal process unfolds, which could influence the company's future operations.