India Cements Limited has received a Goods and Services Tax (GST) demand notice from the Joint Commissioner, GST & Central Excise, Chennai South Commissionerate. The notice, dated February 27, 2025, seeks a payment of Rs. 48.01 lakh in tax dues along with an additional Rs. 4.80 lakh penalty for alleged irregularities in claiming Input Tax Credit (ITC).
According to the company’s regulatory filing with the BSE and NSE, the issue pertains to an alleged excess ITC claimed in GSTR-3B compared to GSTR-2A/2B, as well as certain suppliers failing to file their GSTR-3B returns for the financial period between April 2020 and March 2021.
Read More: Voltas Hit with Rs. 15.32 Crore GST Demand for Alleged Tax Discrepancies and Excess Input Credit
Despite receiving the Order-in-Original (OIO) No. 95/2025-GST(JC), India Cements has stated that it will challenge the matter legally. The company stated that it has reviewed the case and believes it has merit to challenge the demand.
“Considering the merits of the case, the company intends to contest the matter as per law. We are hopeful of a favorable outcome and do not expect any material financial impact on the company,” India Cements stated in its disclosure.
The order was officially received by the company on February 28, 2025.
The company remains optimistic, the GST order brings regulatory scrutiny over ITC claims and compliance with GST return filings. If the dispute is not resolved in India Cements’ favor, the company may have to bear the additional tax, interest, and penalty charges.
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