Shree Renuka Sugars Limited Receives GST Penalty Orders Totalling Rs 1.52 Crore, Files Appeal

Shree Renuka Sugars just told the National Stock Exchange of India and BSE Limited they got hit with two GST penalty orders, together worth about Rs1.52 crore. They reported this on April 27, 2026, following all the usual SEBI rules and regulations.

The first penalty of Rs 1,053,089 is tied to input tax credit not being reversed on damaged goods for which the company got insurance money between 2018 and 2022. The tax department not only demanded the tax but also slapped on an equal penalty. Shree Renuka Sugars got the order last December.

The Second and bigger penalty, Rs 14,174,831, is about excess input tax credit claimed on blocked credit in the same period. Again, the tax department insisted the company took more credit than it should have, so they imposed an equal penalty. Both orders landed on the same day, December 4, 2025, making the total penalty about Rs 1.52 crore.

The company is not backing down. They claim they will get solid ground to challenge both orders and have already filed appeals with the right authorities. According to them, neither penalty really changes their financial situation or business operations, and any effect will just come down to the penalty amounts.

There was a hiccup they admitted they filed this disclosure late. Honestly, it looks like a simple mistake during their internal process. They asked the exchanges to excuse the delay and explained everything was unintentionally overlooked. The Company also acknowledged a delay in filing this disclosure under Regulation 30 and clarified that the delay was purely accidental and unintentional, having occurred due to an inadvertent omission during the internal process of identifying and compiling regulation disclosures. It is requested the exchanges take note of the above fact and condone the delay.