DCM Shriram Consolidated has disclosed receiving a GST demand order from tax authorities in Rajasthan, marking a regulatory development that requires immediate attention under SEBI disclosure norms. The company received the order on December 23, 2025, and informed stock exchanges on December 24, 2025, in compliance with listing obligations.

GST Demand Order Details

The Superintendent of Central Goods and Service Tax, Range XXXIV, Kota, Rajasthan issued the demand order dated December 23, 2025. The order disallows Input Tax Credit on certain goods and services, resulting in specific financial implications for the company.

Nature of Tax Dispute

The tax authorities have disallowed Input Tax Credit (ITC) availed on goods and services procured for factory canteen maintained under the Factories Act, 1948. This disallowance forms the basis of the current tax demand and penalty imposed by the GST department. The company is evaluating appellate remedy options to contest the demand order.

Financial and Operational Impact

DCM Shriram Limited has assessed the impact of this GST demand order on its business operations. The company has stated there is no material impact financially, operationally, or otherwise, except for the extent of the tax demand and penalty amounts.

Regulatory Compliance and Next Steps

The disclosure was made pursuant to Regulation 30 read with Para A of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Circular dated November 11, 2024. The company received the order on December 23, 2025, and the management was informed on December 24, 2025, at around 9:41 AM, leading to the timely disclosure to stock exchanges.

DCM Shriram Consolidated has received a GST demand order from tax authorities, disclosing the development under regulatory compliance requirements. The company informed stock exchanges about the order received from the Assistant Commissioner, Central Goods and Service Tax, Kota, Rajasthan.

GST Demand Details

The tax authority has raised a demand involving significant amounts across multiple components:

Nature of Dispute

The GST demand pertains to the disallowance of Input Tax Credit (ITC) availed on cargo handling and other related services in respect of coal purchases. The authority has disallowed the claimed input tax credit for the period from FY2018-19 to FY2022-23.

Company's Response and Impact

DCM Shriram Consolidated has not provided specific details about its response to the demand order. However, companies typically have the option to challenge such orders through available legal remedies.

Regarding the financial impact, the company faces a tax demand of ₹85.80 lakhs plus applicable interest and penalty. The total impact will depend on the final resolution of the matter.

Regulatory Compliance

The disclosure was made in compliance with regulatory requirements, which mandate listed companies to promptly disclose material events and developments that could impact investor decisions.