JK Lakshmi Cement Wins Appeal, Demand Raised by Tax Authority Struck Down

JK Lakshmi Cement Wins Appeal, Demand Raised by Tax Authority Struck Down​

JK Lakshmi Cement Limited has successfully resolved a tax dispute regarding orders issued under the Goods and Services Tax Act, 2017, with the appellate authority ruling in favor of the company. The appeal was decided on June 11, 2026, leading to the set aside of previous demands raised by state tax officials.

The matter relates to a demand that had been issued by the Office of the Joint Commissioner of State Tax, Durg Division, Chhattisgarh, under GST regulations for the financial year (FY) 2019-20. The original orders, dated August 29, 2024, and August 30, 2024, had imposed a significant liability on the company.

The demand primarily covered Reverse Charge Mechanism (RCM) pertaining to inter-state purchases on a pro-rata basis, along with matters concerning the disallowance of Input Tax Credit (ITC). The financial demands originally included a tax amount amounting to Rs. 879.15 Lakhs, interest of Rs. 659.35 Lakhs, and a penalty of Rs. 87.91 Lakhs.

The company had challenged these original orders before the appropriate appellate authority. JK Lakshmi Cement Limited is pleased to announce that the appeal has been decided in favor of the Company by the Additional Commissioner (Appeal) of State Tax, Chhattisgarh, vide an order dated June 11, 2026. Consequently, the demand raised under the previous tax orders stands set aside.

The financial implication of this appellate decision on JK Lakshmi Cement Limited is NIL.

JKLAKSHMI Stock Price Movement​

Today, shares of JK Lakshmi Cement Limited gained by 0.93%, closing at ₹588.85 after a strong day in the market. The stock traded with a volume of 160,476 shares.