Shree Cement Limited: Tax Demand Reinstated Following Appellate Authority Decision
Shree Cement Limited has received an order from the Additional Commissioner (Appeals), SGST, Patna regarding its tax dispute. The appellate authority dismissed an appeal against a previous demand order issued by the Deputy Commissioner, State Tax, Patna, for technical reasons. This decision resulted in the reinstatement of the tax demand, along with corresponding interest and penalty.The notice specified that the violation alleged concerned valuation issues and excess Input Tax Credit (ITC) availed. The company stated that the appeal was initially filed against a demand order which ultimately saw the reinstatement of the amount due to technicalities during the appeal process.
While the company emphasized that the order carries no major financial impact, it also noted that the Authority had not considered the facts and averments submitted by Shree Cement Limited. Based on the merits of the case, the company plans to file an appeal before the GST Appellate Tribunal within the prescribed time under section 112 of the Bihar GST Act, 2017.
The details related to the demand order received from the Additional Commissioner (Appeals), SGST, Patna are summarized below:
| Aspect | Details - 1 | Details - 2 |
|---|---|---|
| Authority | Additional Commissioner (Appeals), SGST, Patna | Additional Commissioner (Appeals), SGST, Patna |
| Order Date | June 23, 2026 | June 23, 2026 |
| Violation Alleged | Valuation as well as excess ITC availed | Valuation as well as excess ITC availed |
| Tax Demand Reinstated | Rs. 23,55,71,668/- | Rs. 14,93,09,708/- |
| Interest Amount | Rs. 15,19,43,725/- | Rs. 9,18,25,472/- |
| Penalty Amount | Rs. 2,35,57,166/- | Rs. 1,49,30,971/- |
The company stated that the order has no major financial impact on its operations and activities.
SHREECEM Stock Price Movement
On Wednesday, SHREE CEMENT LIMITED stock rallied hard, finishing the session with a gain of 4.33% and settling at ₹26070. The equity traded a total volume of 59,710 shares during the historical market period.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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