Shree Renuka Sugars Receives Penalty Orders Regarding Input Tax Credit Issues
Shree Renuka Sugars Limited recently reported receiving penalty orders from the Assistant Commissioner of CGST & Central Excise, Belagavi City Division, Belagavi, Karnataka. The orders concern alleged contraventions relating to Input Tax Credit (ITC) during the Financial Year 2018-2022.The department issued two separate orders, detailing violations and associated penalties.
| Penalty Order Details | Specific Violation/Allegation | Penalty Amount | Date of Order Receipt |
|---|---|---|---|
| Order 1 | Failure to reverse ITC on damaged goods against which insurance claim was received. | Rs. 10,53,089/- | December 4, 2025 |
| Order 2 | Availing excess ITC on blocked credit. | Rs. 1,41,74,831/- | December 4, 2025 |
The orders confirm a tax demand amount, followed by an equal penalty in both instances. For the first penalty order, the department alleged non-reversal of ITC, while for the second order, the allegation was the claiming of excess ITC.
The financial impact on the listed entity is noted as limited to the final penalty amount. Shree Renuka Sugars Limited confirmed the penalties are associated with alleged excess and non-reversal of ITC during FY 2018-2022.
RENUKA Stock Price Movement
Today, Shree Renuka Sugars Limited shares edged higher to close at ₹28.03, rising 0.79% from where it opened. The stock traded through a range of ₹27.79 to ₹28.41, bolstered by a volume of 6.64 million shares recorded today.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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