Key Quantitative Figures

  • Total GST Demand: ₹13,90,55,461/- (Rupees Thirteen Crore Ninety Lakh Fifty-Five Thousand Four Hundred Sixty-One Only)
  • Breakdown of Demand:
  • IGST: ₹11,21,33,691/-
  • CGST: ₹1,34,60,888/-
  • SGST: ₹1,34,60,882/-
  • Additional Liabilities: Applicable interest and equivalent penalty
  • Financial Year: 2020-21

Dates of Action

  • Notice Date: 25th August, 2026
  • Disclosure Date: 26th August, 2026

Parties Involved

  • Issuing Authority: Joint Commissioner, Haldia CGST & CX Commissionerate

Basis of Notice

The show cause notice alleges that JSW Cement Limited wrongly availed excess Input Tax Credit (ITC) of ₹13,90,55,461/- during FY 2020-21 based on:

  • Discrepancies identified through DGARM analysis
  • Reconciliation discrepancies between GSTR-3B, GSTR-9 and GSTR-2A data
  • Department contends excess credit is unsupported by supplier-reported records and statutory documentation

Company's Position & Response

  • The Company is in process of filing a reply in the matter
  • Company states there is "no material impact on the Company" despite the proposed demand
  • Company had previously defended that differences arose due to import IGST being reported under wrong column in GSTR-3B, but this was rejected by authorities for lack of invoice-wise correlation and errors in reconciliation submitted

Allegations

  • Violation of Section 16(2), Rule 36(4), Sections 39, 41 and 155 of CGST Act
  • Alleged suppression of facts and willful misstatement

Financial Impact Assessment

As per the disclosure: "The financial impact of the show cause cum demand notice is to the extent of the Demand, Penalty and Interest proposed, but there is no material impact on the Company."

Status

Matter is at show cause notice stage. No final order or determination has been made.

#Tags: #JSWCement #GSTNotice #SEBIDisclosure #RegulatoryCompliance #TaxDispute #Neutral