Shipping Corp of India faces revised tax demand of ₹60.07 crore
Shipping Corporation of India Limited received a revised tax demand of ₹60.07 crore from the Joint Commissioner of State Tax (Appeal-VI) on March 11, 2026. The demand, mainly due to ITC mismatch, is a reduction from the original ₹160.37 crore. SCI is reviewing the order and exploring further appeal options.
The confirmed demand of ₹60.07 crore, while significant, represents a reduction from the initial demand. The company's intent to contest the demand suggests it may not be a final financial blow, but it still impacts the company's financial standing.
The company has received a confirmed tax demand, which is a negative development, although it is lower than the original demand. The company is exploring options to contest it.
The Shipping Corporation of India Limited (SCI) has received an order dated 11th March 2026 from the Joint Commissioner of State Tax (Appeal-VI), confirming a revised demand of ₹60,06,97,357. This revised demand comprises a tax component of ₹29,08,88,754 along with applicable interest and penalty.
This is in continuation of a previous disclosure dated 29th August 2024, where the company had appealed against an order issued by the Deputy Commissioner of State Tax. The original demand was ₹1,60,37,35,973.00, which included a tax component of ₹77,66,21,740 plus interest and penalty. The primary reason for the demand is a mismatch in Input Tax Credit (ITC) with GSTR-2A.
The company is currently reviewing the order in detail and evaluating its next steps. SCI is exploring all possible options to contest the demand, including filing a further appeal, and believes there is strong merit in the case.
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Shipping Corporation Of India 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 Shipping Corporation Of India Limited. Read the original for the full detail.