Summary of Key Information:
Nature of Event / Disclosure:
Regulatory disclosure under SEBI Listing Obligations and Disclosure Requirements Regulations, 2015 (Regulation 30) regarding receipt of a Show Cause Notice from GST authorities.
Involved Parties / Authorities:
- Issuing Authority: Office of the Deputy Commissioner Of State Tax, MUM-NOD-E-1204 (Sakinaka_506) Nodal-12, Zone-IV, Mumbai
- Recipient: Saurashtra Cement Limited ("the Company")
Date / Timeline of Event:
- Notice Date: 25th September 2026
- Company Receipt Date: 25th September 2026
- Disclosure Date: 26th September 2026
- Response Deadline: 23rd October 2026
Brief Description of Outcome / Dispute:
The Company has received a Show Cause Notice under Section 73 of both the Central Goods and Services Tax Act, 2017 (CGST) and the Maharashtra Goods and Services Tax Act, 2017 (MGST) regarding excess Input Tax Credit claimed in GSTR-3B/9 returns for the financial year 2022-23.
Impact of Outcome:
Financial Impact:
- The notice demands payment of ₹2,06,93,890 (Rupees Two Crore Six Lakhs Ninety Three Thousand Eight Hundred Ninety Only)
- The company states that based on their assessment, "the aforesaid demand is not maintainable"
- The company explicitly states it does not envisage any impact on the financial, operations or other activities of the Company
Operational / Business / Strategic Impact:
- No operational or business impact anticipated as per company assessment
- The company is evaluating the matter and will submit its reply within the prescribed time period
Other Implications:
- This is a regulatory compliance matter requiring timely response to tax authorities
- Disclosure made pursuant to SEBI LODR requirements for material events
Next Steps / Required Actions:
- The company must show cause before the Deputy Commissioner Of State Tax, MUM-NOD-E-1204 (Sakinaka_506) Nodal-12, Zone-IV, Mumbai
- Response deadline: 23rd October 2026
- Company is evaluating the matter and will submit its reply within the prescribed time period