Shree Cement Loses Tax Appeal, Faces ₹97.05 Lakh Demand

Shree Cement Limited has announced the dismissal of its appeal by the Deputy Commissioner (Appeals), Punjab. The appeal was against a demand order from the State Tax Officer, Mohali, for a tax demand of ₹46,12,542, along with interest of ₹47,47,253 and a penalty of ₹4,61,255. The total amount demanded is ₹97,05,050. The company stated that the order has no major financial impact and plans to file a rectification application and an appeal before the GST Appellate Tribunal. The grounds for the appeal were non-payment of tax liability and non-reversal of ITC.