JSW Cement Ltd. hit by a ₹229.85 crore GST demand notice, dragging the stock down 2.2% to ₹115.65 on the BSE.
The demand breaks into ₹121.76 crore Integrated GST, ₹54.05 crore Central GST, and the same amount as State GST, covering April 2022‑March 2024 and citing Sections 9, 37, 39, 50 and 73 of the CGST Act.
In a filing, the company said it is drafting a reply and that the financial hit is not material, despite the interest and a 10% penalty looming.
JSW Cement’s Q1 profit rose to ₹161 crore on a 22% revenue lift, yet the looming GST bill could strain cash flow; the cement sector remains demand‑heavy but cost‑sensitive.
The firm plans to file the show‑cause reply by mid‑October, with Q2 earnings expected in December; investors will watch how the GST assessment impacts liquidity.