UltraTech Cement Limited has disclosed receipt of an Order from the Additional Commissioner, Central Goods and Services Tax, Dehradun. The order confirms an original tax demand totaling ₹53,81,19,148/-, along with an equal penalty amount. The liability pertains to alleged differential tax and non-reversal of ITC for FY 2019-20 to FY 2023-24. The company intends to contest the demand, stating it does not expect any material financial impact.
Disclosure of GST Authority Order
On 31st March, 2026, UltraTech Cement Limited informed stock exchanges that it received an official Order from the Additional Commissioner, Central Goods and Services Tax, located in Dehradun, Uttarakhand. This disclosure was made pursuant to the relevant SEBI Listing Regulations.
Details of the Demand and Penalty
The order confirms a tax demand in original proceedings. The critical figures released are:
- Tax Demand: ₹53,81,19,148/-, plus applicable interest.
- Penalty Imposed: An additional penalty of ₹53,81,19,148/-.
The total quantifiable demand, including penalty, is approximately ₹107.63 crore.
Alleged Violations and Financial Outlook
The Order concerns matters involving alleged differential tax liability and the non-reversal of Input Tax Credit (ITC) covering the financial years FY 2019-20 to FY 2023-24. Despite the significant nature of the demand, the management states that the Company will be contesting the demand. Furthermore, UltraTech Cement does not expect the said Order to have any material financial impact on the Company’s operations or financials.
Source: BSE
