Shemaroo faces Rs 70.26 Cr GST demand, plans appeal

• Shemaroo Entertainment faces a GST demand of Rs 70.26 crore for alleged inadmissible Input Tax Credit (ITC), plus interest and penalty.
• The company was also imposed an additional penalty of Rs 63.35 crore under the CGST Act.
• Penalties of Rs 133.61 crore each were levied on Shemaroo's Joint Managing Director, CEO, and CFO.
• Shemaroo believes the demands are "not maintainable in law" and plans to file a further appeal against the order.

Why It Matters: Shemaroo faces a major GST demand, impacting its financial stability.