Cement maker Nuvoco Vistas gets ₹112-crore tax and penalty notice from CGST

Cement maker Nuvoco Vistas Corporation Limited on Thursday (September 25) said it has received a show-cause notice from the Joint Commissioner (Prev), CGST & Central Excise, Raipur, pertaining to the period FY20 to September 2024 of FY25.The notice, received on September 24, 2025, alleges invoicing by the company’s carrying and forwarding agents (C&FAs) without the actual supply of cement.

The tax authorities have based their demand on assumed non-supply, citing typographical errors in vehicle numbers in invoices recorded by computer operators on the rolls of C&FAs. The demand totals ₹37.61 crore, with an additional penalty of ₹74.87 crore, aggregating to ₹112.48 crore.

Also Read: Nuvoco Vistas Q1 Results: Profit surges, co completes acquisition of Vadraj CementNuvoco Vistas said it has sufficient evidence to support the genuineness of transactions and will file an appropriate reply before the Joint/Additional Commissioner. The company expects the demand and penalties to be set aside and does not anticipate any material financial impact.

“The imposition of tax is solely based on the assumption by tax authorities without going into the facts of the matter. The company has sufficient evidence to support the genuineness of transactions. In this regard, the requisite information has been sought from tax authorities,” Nuvoco Vistas said.

Also Read: Nuvoco Vistas announces ₹200 crore eastern capacity expansion plans

Shares of Nuvoco Vistas Corporation Ltd ended at ₹443.95, down by ₹7.50 or 1.66%, on the BSE today, September 25.