Saurashtra Cement Receives GST Show Cause Notice for ₹3.83 Crore Demand
Saurashtra Cement Limited received a GST Show Cause Notice for ₹3.83 Crore concerning alleged short payment and excess ITC for FY 2022-23. A hearing is scheduled for October 29, 2026. The company believes the demand is not maintainable and expects no significant financial impact.
A demand of ₹3.83 Crore, even if disputed, represents a material amount that could potentially impact the company's financials if the case goes against them. However, the company's assessment of no significant impact moderates the impact level.
The company received a Show Cause Notice, which is a procedural step. However, the company believes the demand is not maintainable and does not expect any significant financial impact, thus maintaining a neutral sentiment.
Saurashtra Cement Limited has received a Show Cause Notice from the Office of the Deputy Commissioner of State Tax, Range -24, Jamnagar, under Section 73 of the Central Goods Services Tax (CGST) Act and the Gujarat Goods and Services Tax (GGST) Act, 2017.
The notice pertains to alleged short payment of GST on B2C outward supplies disclosed through e-way bills, excess Input Tax Credit (ITC) availed on B2B inward supplies, and ineligible ITC on motor vehicle-related expenses, works-contract services, business-promotion gifts, and free-distribution articles. It also covers non-reversal of ITC where consideration was not paid within 180 days for the period 2022-23 and on construction and capitalization of immovable property.
The company has been asked to respond to the notice, with a hearing scheduled for October 29, 2026. The total demand amount stated in the notice is ₹3,83,41,188 (Rupees Three Crore Eighty-Three Lakhs Forty-One Thousand One Hundred Eighty-Eight Only), which includes interest on penalty.
Saurashtra Cement Limited, however, believes the demand is not maintainable and is evaluating the matter to submit its reply within the prescribed time. The company does not foresee any significant impact on its financial, operational, or other activities as a result of this notice.
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