India Cements Receives GST Demand Order, Plans to Contest

Mike

Chennai, January 31, 2025 – India Cements Limited (BSE: 530005, NSE: INDIACEM) has received an Order in Original (OIO) from the Joint Commissioner, State Tax, Circle-A, Banswara, Rajasthan. The order demands ₹6,57,000 in GST, along with an interest of ₹8,75,772 and a penalty of ₹6,57,000, citing irregular availment of Input Tax Credit (ITC) on coal handling services.

Regulatory Disclosure

In accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has disclosed that the order was received via email on January 30, 2025, at 1:26 PM.

Company’s Response

India Cements has stated that it intends to contest the matter as per legal provisions. The company remains optimistic about a favorable outcome and does not anticipate a material financial impact due to the order.

Market & Investor Impact

Given the company’s position and its decision to contest, investors are advised to monitor developments closely. India Cements has reassured stakeholders that this order is unlikely to affect its financial stability.