Tax dept reduces tax demand on Shree Cement to INR 2.2 bln from INR 5.9 bln
This story was originally published at 16:31 IST on 20 August 2025
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KOLKATA – Shree Cement Ltd. Wednesday said that the Income Tax Department has reduced its earlier demand of INR 5.9 billion in May to INR 2.2 billion through a rectification order. The reduced demand has been fully paid by the cement company by way of adjustment against pending refunds.
In a filing with the bourses, Shree Cement said that it had received a tax demand from the Assistant Commissioner of Income Tax, Central Circle in Ajmer, in May demanding a tax payment of INR 5.9 billion for 2021-22 (Apr-Mar). However, the tax authorities issued a rectification order this month thereby reducing the tax.
Shree Cement has also filed an appeal before the appellate authority against the disallowances made in the assessment order by the Income Tax Department. Looking to the orders of authorities and appellate forum passed for preceding years, the company expects that the demand should further come down, Shree Cement said in the filing.
On Wednesday, shares of Shree Cement closed 0.7% down at INR 30,690 on the National Stock Exchange. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Avishek Rakshit
Edited by Akul Nishant Akhoury
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