Archive · 2 Jun 2025
Shree Cement Shares Dip Following ₹589 Crore Tax Demand
Shree Cement, a company, received a tax demand of approximately ₹589 crore for a past financial year.
This means the government thinks the company owes more taxes.
The company believes there are mistakes in the demand and expects the amount to be reduced.
They plan to fix the issues and think previous similar cases suggest the matter will be resolved without a big impact.
The company's stock went down slightly after this news.
They also mentioned they would adjust the demand with pending refunds.
Shree Cement's shares fell 3.38% after the announcement.
The company received a tax demand of ₹588.65 crore for FY2021–22.
The demand is due to disallowances by the tax authority.
Shree Cement believes there are errors and expects a reduced amount.
The company will take remedial actions and adjust with pending refunds.
- Who
- Shree Cement
- What
- Faced a tax demand of ₹588.65 crore.
- When
- The Income Tax Department issued the final assessment order.
- Where
- Not specified
- Why
- The demand arose from disallowances made by the tax authority.
- Tax Demand
- ₹588.65 crore
- Financial Year
- FY2021–22
- Reason for Demand
- Disallowances
- Assessment Order
- Under Section 143(3) of the Income Tax Act
- Share drop
- Shares fell 3.38%