India Cements has received three separate GST orders from different tax authorities on December 30, 2025, with combined demands totaling ₹57.88 crores for the financial year 2021-22. The cement manufacturer disclosed these developments through a comprehensive regulatory filing under SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.

Multiple GST Authority Orders

The company received orders from three different GST authorities across Chennai, Vijayawada, and Hyderabad on the same date. Each order addresses various alleged tax compliance violations for FY 2021-22.

Nature of Alleged Violations

The GST orders address multiple compliance issues that the authorities claim occurred during FY 2021-22. The alleged contraventions vary across the three jurisdictions but share common themes.

The key violations cited across the orders include:

• Alleged claim of excess Input Tax Credit
• Short payment or non-payment of tax
• Input Tax Credit mismatch issues
• Other related tax compliance matters

According to the company's filing, all three orders were passed "without due consideration of the Company's submissions," indicating that India Cements had previously presented its case to the respective authorities.

Company's Response Strategy

India Cements has indicated a uniform approach to addressing all three GST orders. The company is currently reviewing each order in detail and evaluating all available legal remedies.

The company has consistently stated across all three disclosures that it "does not expect the said Order to have any material financial/operational impact" on its business operations. This suggests that India Cements believes it has strong grounds to challenge all the GST authorities' findings and demands.

Regulatory Compliance and Disclosure

The comprehensive disclosure was made in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015, which requires listed companies to inform stock exchanges about material events. The company filed detailed annexures for each authority's order with both BSE Limited and the National Stock Exchange of India Limited on December 31, 2025.

This development represents significant regulatory scrutiny that the company faces regarding GST compliance across multiple jurisdictions, particularly concerning complex issues like Input Tax Credit management and tax payment obligations for FY 2021-22.

India Cements has responded to BSE's inquiry regarding the recent surge in trading volume of its securities, confirming full regulatory compliance and stating no material information is pending disclosure.

BSE Inquiry and Company Response

The company received an email from BSE seeking clarification on the significant increase in trading volume of India Cements' securities across exchanges in recent times. In its formal response, the company addressed the exchange's concerns through a detailed clarification letter.

Regulatory Compliance Statement

India Cements emphasized its adherence to regulatory requirements in its response to the stock exchange:

The company specifically referenced Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which governs disclosure of material events and information by listed companies.

No Material Information Pending

The cement manufacturer clarified that beyond the disclosures already made and available on stock exchanges, it possesses no additional information or announcements that could influence its stock performance. The company stated it has no impending announcements that, in its opinion, may have a bearing on the price or trading volume of the company's security.

Corporate Communication

The company's response demonstrates its commitment to transparent communication with regulatory authorities and maintaining investor confidence through timely clarifications.

As a prominent player in the cement industry, India Cements continues to operate under strict regulatory oversight while maintaining its obligations to provide accurate and timely information to market participants and regulatory bodies.