Disclosure under Regulation 30 of SEBI Listing Regulations
Shree Cement Limited has made a disclosure pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding dismissal of GST appeals by the Additional Commissioner (Appeals), SGST, Patna.
Nature of the Action
The Additional Commissioner (Appeals), SGST, Patna has dismissed two appeals filed by the company against demand orders passed by the Deputy Commissioner, State Tax, Patna. The dismissals were made for technical reasons, thereby reinstating the original tax demands.
Details of the Orders
First Demand (Details-1):
- Tax Demand: ₹23,55,71,668
- Interest: ₹15,19,43,725
- Penalty: ₹2,35,57,166
- Total Financial Impact: ₹41,10,72,559
Second Demand (Details-2):
- Tax Demand: ₹14,93,09,708
- Interest: ₹9,18,25,472
- Penalty: ₹1,49,30,971
- Total Financial Impact: ₹25,60,66,151
Combined Total Impact: ₹66,71,38,710
Authority and Dates
- Authority: Additional Commissioner (Appeals), SGST, Patna
- Order Date: 23rd June, 2026 for both demands
- Disclosure Date: 24th June, 2026
Alleged Violations
Both orders relate to allegations of:
- Valuation issues
- Excess Input Tax Credit (ITC) availed
Under the provisions of the Bihar GST Act, 2017.
Financial Impact Assessment
The company states that "the order has no major financial impact on the Company." The authority has not considered the facts and averments submitted by the company.
Next Steps
Based on the merits of the case, the company intends to file appeals before the GST Appellate Tribunal within the prescribed time under Section 112 of the Bihar GST Act, 2017.
Company Representation
The disclosure was signed by S.S. Khandelwal, Company Secretary of Shree Cement Limited, and digitally signed by Shyam Sunder Khandelwal on 24th June, 2026 at 23:01:14 IST.