Sagar Cements Ltd. Receives Order from Hyderabad GST Commissionerate
Sagar Cements Ltd. announced on March 27, 2026, that it received an order from the Additional Commissioner, Hyderabad GST Commissionerate. The order levies a net Goods and Services Tax (GST) of Rs. 1,78,30,452/- along with applicable interest and penalty.The order pertains to a corporate guarantee provided by the company to lenders for debt availed by its subsidiaries, as stipulated under Section 74 of the CGST/TGST Act, 2017. The company intends to appeal the order before the appropriate authority and does not anticipate a material impact on its financial, operational, or other activities.
Details of the order are outlined below:
| S.No | Particulars | Information |
|---|---|---|
| 1 | Name of the Authority | Additional Commissioner, Customs &Central Tax, Hyderabad GST Commissionerate, Hyderabad |
| 2 | Nature and details of the action(s) taken, initiated or order(s) passed | Order passed by Additional Commissioner levying a net GST of Rs.1,78,30,452/- along with the applicable interest and penalty under Section 74 of the CGST/TGST Act, 2017 for the corporate guarantee provided by the company to the lenders for the debt availed by its subsidiaries. |
| 3 | Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority | 26th March, 2026 |
| 4 | Details of the violation(s) I contravention(s) committed or alleged to be committed | The Company has received the order from the GST Authorities levying a net GST of Rs. I,78,30,452/- along with the applicable interest and penalty under Section 74 of the CGST/TSGT Act, 2017. |
| 5 | Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible | The Company is taking necessary steps to appeal against the Order before the appropriate Authority. The Company does not foresee any material impact on its financial, operational or other activities. |
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