UltraTech Cement Limited has disclosed receipt of an Order from the Assistant Commissioner, State GST, Maharashtra, dated March 12, 2026. The order confirms a tax demand of ₹1,08,54,131, along with significant interest and a penalty totaling approximately ₹2.15 crore. The issue pertains to alleged ineligible Input Tax Credit (ITC) utilized during FY 2019-20. The company plans to contest the demand but currently expects no material financial impact.
Disclosure of GST Authority Order
In compliance with regulatory requirements, UltraTech Cement Limited has formally notified the stock exchanges regarding an Order received from the Assistant Commissioner, State Goods and Services Tax, Maharashtra. The official communication regarding this development was dated 13th March, 2026.
Details of the Confirmed Demand
The Order in Original confirms a substantial financial liability linked to the tax period of FY 2019-20. The specific components of the demand are as follows:
- Tax Demand Confirmed: ₹1,08,54,131
- Interest Imposed: ₹1,17,22,460
- Penalty Levied: ₹1,08,54,131
The core matter leading to this assessment involves the alleged utilization of ineligible Input Tax Credit (ITC) related to blocked credits during that fiscal year.
Company Response and Financial Outlook
The company confirms that it received the direction or order on 12th March, 2026. UltraTech Cement has stated its intention to contest the demand issued by the tax authority. Critically, management assesses that the aforementioned Order is not expected to have any material financial impact on the operations or finances of the Company.
Source: BSE
