Shree Cement Faces ₹41 Crore GST Demand for Valuation Discrepancies and Excess ITC
Shree Cement has received a Rs. 41 crore GST demand due to valuation discrepancies and excess input tax credit
Shree Cement Ltd, a leading cement manufacturer based in Rajasthan, has been issued a Goods and Services Tax (GST) demand order by the Deputy Commissioner of State Tax, Special Circle, Patna, Bihar. The order, totaling Rs. 41.10 crore, includes tax, interest, and penalties. In a regulatory filing, Shree Cement confirmed the receipt of the demand order, stating, “We officially...
Shree Cement Ltd, a leading cement manufacturer based in Rajasthan, has been issued a Goods and Services Tax (GST) demand order by the Deputy Commissioner of State Tax, Special Circle, Patna, Bihar. The order, totaling Rs. 41.10 crore, includes tax, interest, and penalties.
In a regulatory filing, Shree Cement confirmed the receipt of the demand order, stating, “We officially submit that the company has received a GST demand order from the Deputy Commissioner, State Tax, Special Circle, Patna, Bihar.”
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Read More: Rs 800 Cr GST Demanded Against Zomato
The demand, issued in Form GST DRC-07, breaks down to Rs. 23.55 crore in tax, Rs. 15.19 crore in interest, and Rs. 2.35 crore in penalties. Dated February 24, 2025, the order cites valuation discrepancies and excess claims of Input Tax Credit (ITC) as the primary reasons for the demand.
Despite the substantial amount, Shree Cement stated that the order will not hugely impact its financial standing. The company plans to challenge the demand by filing an appeal under Section 107 of the Bihar GST Act by May 23, 2025.
“The order has no big financial implications on the corporation. The contentions are not agreed, and an appeal under Section 107 of the Bihar GST Act will be submitted on or before May 23, 2025 (within three months of the date of communication of the order),” the company stated.
GST READY RECKONER: Complete Topic wise Circulars, Instructions & Guidelines Click here
About the Company
Shree Cement is a big company in India that makes cement. It was started in 1979 and is known for being efficient and eco-friendly. They produce a lot of cement and also generate power. Shree Cement focuses on using renewable energy and recycling waste to protect the environment. They have plants in India and have also expanded to other countries. Their dedication to sustainability and innovation has made them a leader in the cement industry.
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