JSW Cement Faces ₹13.77 Crore Demand & Penalty Order; Appeals Planned
JSW Cement received an order from CGST & CX Haldia Commissionerate demanding ₹6.88 crore and imposing an equal penalty, totaling ₹13.77 crore. The company disputes the order, citing incorrect assessment of ITC, and plans to file an appeal. JSW Cement stated there is no material impact on its operations.
While the company states there is no material impact, the demand and penalty of ₹13.77 crore is a substantial amount that could affect financials if the appeal is unsuccessful.
The company has received a significant demand and penalty order from tax authorities, which is a negative development.
JSW Cement Limited has disclosed an order passed by the Additional Commissioner, CGST & C.X. Haldia Commissionerate, West Bengal, on 27th March 2026.
The order disallows Input Tax Credit (ITC) amounting to ₹6,88,81,340 and imposes a penalty of the same amount, totaling ₹13,77,62,680. The alleged violation pertains to the provisions of Section 74, citing suppression of facts and availing ITC in excess of what is available in table 8A of GSTR 9, thereby contravening Section 16 conditions.
The company believes the order is incorrect and has not considered its contentions. JSW Cement is in the process of filing an appeal against this order. While the order involves a significant financial demand and penalty, the company states there is no material impact on its operations and intends to pursue the appeal with the appropriate authority. The information is also being uploaded to the company's website.
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JSW Cement Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by JSW Cement Limited. Read the original for the full detail.