Tax & Penalty1 May 2026, 06:21 pm
JK Lakshmi Cement Faces ₹391.84 Lakhs GST Penalty
AI Summary
JK Lakshmi Cement Ltd received an order from the Joint Commissioner of State Tax, Durg Division, Chhattisgarh, demanding ₹179.19 Lakhs in tax, ₹33.46 Lakhs in interest, and a penalty of ₹179.19 Lakhs for FY 2023-24 due to disallowed Input Tax Credit. The company plans to appeal the order, stating that it will not have a material impact on its financial, operational, or other activities.
Key Highlights
- JK Lakshmi Cement faces a total GST demand and penalty of ₹391.84 Lakhs.
- The demand arises from disallowed Input Tax Credit for FY 2023-24.
- The company will file an appeal against the order.
- JK Lakshmi Cement anticipates no material financial impact from this order.