JSW Cement Ltd, part of Sajjan Jindal-promoted diversified JSW Group, on Thursday (September 24) said it has received a show-cause notice from the Additional Commissioner of Central Tax, Belagavi Audit Commissionerate, proposing a ₹229.85 crore GST demand, along with applicable interest and a 10% penalty.
“JSW Cement Limited has received a show-cause notice from the Additional Commissioner, Central Tax, Belagavi Audit Commissionerate on 24th September, 2026, in relation to alleged short payment of GST on account of incorrect classification.
The Department has consequently proposed a GST demand of ₹229.85 crore, along with applicable interest and a 10% penalty, under Section 73 of the CGST Act, 2017, for the period April 2022 to March 2024,” according to a stock exchange filing.
The notice was received on September 24, 2026, in relation to an alleged short payment of GST on account of incorrect classification. The proposed GST demand of ₹229.85 crore comprises Integrated GST (IGST) of ₹121.76 crore, Central GST (CGST) of ₹54.05 crore and State GST (SGST) of ₹54.05 crore.
The demand relates to the period from April 2022 to March 2024. The notice proposes the demand under Section 73 of the Central Goods and Services Tax (CGST) Act, 2017, along with applicable interest and a 10% penalty.
The department has cited alleged contravention of Sections 9, 37 and 39 of the CGST Act, along with interest under Section 50 and a 10% penalty under Section 73.
JSW Cement said the financial impact of the show-cause notice is to the extent of the proposed demand, penalty and interest. However, the company said there is no material impact on the company.
The company is in the process of filing a reply to the show-cause notice. The total proposed GST demand is ₹229.85 crore, in addition to applicable interest and a 10% penalty.
Shares of JSW Cement Ltd ended at ₹115.65, down by ₹2.60, or 2.20%, on the BSE.
