GST: Shemaroo Receives Rs 70 Crore ITC Recovery Order

The Shemaroo Entertainment Limited, a major Indian media and entertainment company received a demand order from the Commissioner (Appeals-II) CGST and Central Excise, Mumbai.

This disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 through which the company was informed about the receipt of the following demand on December 8, 2025.

1. Recovery of ITC worth Rs 70.26 crores along with interest under Section 74 (1) of the CGST Act, 2017.

2. Penalty of Rs 63.35 crores under section 122(1)(ii) (x) & Section 122(2)(b) of the CGST Act, 2017 read with section 20 of the IGST Act, 2017.

3. Penalty of Rs 133.61 crores each on the Joint Managing Director, Chief Executive Officer and Chief Financial Officer of the Company under Section 122(IA) of the CGST Act, 2017 and MGST Act, 2017.

The company also added that there is no significant impact on financial, operational or other activities of the Company and will take appropriate steps to challenge the penalty order before the judicial forum.