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Shree Cement and Ansal Housing have received separate tax-related orders from authorities, resulting in fresh financial demands, while Kesoram Industries has obtained significant relief after a reassessment reduced its tax liability sharply. Shree Cement is facing a service tax demand of INR 8.31 crore, whereas Ansal Housing has been issued an income tax demand of INR 19.20 crore for a recent assessment cycle. Kesoram’s liability, which was earlier much higher, has been reduced to INR 6.03 crore. All companies are planning to challenge or review the respective orders.
Shree Cement has received a service tax demand order of INR 8.31 crore from the Commissioner of Central GST and Central Excise, Jodhpur. The order includes interest charges and an equal amount of penalty linked to the alleged short payment of service tax. The company has stated that it disagrees with the assessment made by the tax authorities and intends to file an appeal before the appropriate appellate forum within the prescribed time limit. It has also clarified that the order is not expected to have any material impact on its ongoing business operations or financial stability. The company has dealt with similar regulatory matters in the past through legal channels and continues to maintain that its compliance position remains strong. Advertisement
Ansal Housing has also received an income tax assessment order along with a demand notice of INR 19.20 crore from the Income Tax Department for a recent assessment year. The demand has been raised after adjustments related to expense disallowances, income recognition differences, and other assessment-level changes made by the department. The company has indicated that it is in the process of challenging the order through the appellate mechanism and will be filing the necessary submissions. It has further stated that there is no immediate impact expected on its operational activities or liquidity position due to the demand raised. The company has faced tax-related assessments in earlier periods as well, which were handled through legal proceedings.
In a separate development, Kesoram Industries has received relief in its ongoing tax matter after its earlier income tax demand was significantly reduced. The liability, which stood at INR 70.54 crore earlier, has now been brought down to INR 6.03 crore following a review by the tax authorities. The company is evaluating further legal options for the remaining amount and has stated that the revised demand does not create any material adverse impact on its operations. Kesoram has been working through multiple restructuring and financial adjustments in recent years, and this reduction adds partial clarity to its tax-related exposure.
Overall, all three companies are currently engaged in either contesting or reviewing their respective tax orders. The developments reflect continued reassessment activity by tax authorities, while the companies maintain that these orders are procedural in nature and will be addressed through established legal routes.
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