JK Lakshmi Cement Receives GST Demand Order for Disallowed Input Tax Credit
JK Lakshmi Cement Limited, a leading Indian cement manufacturer, has recently issued a disclosure to NSE Ltd and BSE Ltd regarding receipt of a demand order.
Background
The Company states that the Office of the Joint Commissioner of State Tax has issued a tax demand order of Rs 179.19 lakhs, along with interest and a penalty for FY 2023-24, on the disallowance of Input Tax Credit.
Company’s Response
The Company intends to file an appeal before the Appellate Authority against the said order.
Financial Impact
The Company further stated that it will not have any material impact on its financial position, operations, or other activities.
Key Details
| Particular | Details |
| Company | JK Lakshmi Cement Ltd |
| Issuing Authority | Office of the Joint Commissioner of State Tax Jurisdiction: – Durg Division, Chhattisgarh |
| Type of communication received | Order u/s 74 of the Goods & Services Tax Act, 2017 |
| Financial Year | 2023-24 |
| Tax Demand | Rs 179.19 Lakhs |
| Interest | Rs 33.46 Lakhs |
| Penalty | Rs 179.19 Lakhs |
Company’s Disclosure
The company made the above disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”).
