UltraTech Cement Faces ₹782.2 Crore GST Demand Notice: Legal Fight Ahead, ETCFO
UltraTech Cement on Saturday said it has received a GST demand notice for a total payment of ₹782.2 crore, which it plans to contest before the appropriate forum.
“The Company is reviewing the Order, considering all legal options, and accordingly would be contesting the demand,” UltraTech Cement said in a regulatory filing.
The order has been passed in various matters on account of “alleged short payment of GST, improper utilisation of Input Tax Credit, etc” during the period 2018-19 to 2022-23, the company said.
The order is passed “without due consideration of the Company’s submissions.”
The order passed against it is “upholding tax liability of ₹3,90,95,58,194/- plus applicable interest on tax demand; additional interest ₹27,68,289/- and penalty of ₹3,90,95,58,194/”, the filing said.
The Aditya Birla flagship firm has received the order passed by the Joint Commissioner, Central Goods and Services Tax & Central Excise, Patna, on Friday.
UltraTech is the country’s leading cement maker, with a capacity nearing 200 million tonnes per annum.
