Shree Renuka Sugars Ltd. Receives Penalty Order
Shree Renuka Sugars Limited announced it received a penalty order dated March 18, 2026, from the Office of the Assistant Commissioner of State Tax Unit-103, Gandhidham, under the CGST Act, 2017.The penalty order, received on March 20, 2026, involves a penalty of 32,068,779 Indian Rupees for alleged wrongful availment of Input Tax Credit (ITC). The company maintains it has strong grounds for appeal and intends to file an appeal before the appellant authority.
According to the company, the financial impact will be limited to the amount of the final penalty. The company was reviewing the order in detail and evaluating next steps, explaining the delay in disclosure.
Here’s a summary of the details:
| Particulars | Details |
|---|---|
| Name of Authority | Office of the Assistant Commissioner of State Tax Unit-103, Gandhidham |
| Nature of Action | Penalty of Rs. 3,20,68,779 for alleged wrongful availment of Input Tax Credit (ITC). |
| Date of Receipt | 20 th March 2026 |
| Details of Violation | Alleged violation of the Act and Rules made thereunder in respect of alleged wrongful availment of ITC. |
| Impact | No material impact on the financial, operations or other activities of the Company, financial impact limited to the penalty amount. |
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