UltraTech Cement Receives Order from GST Authority
UltraTech Cement Limited announced on March 25, 2026, that it received an order from the Deputy Commissioner, State Goods and Services Tax, Maharashtra.The order confirms a tax demand of Rs. 28,96,92,293, along with interest of Rs. 15,00,05,050 and a penalty of Rs. 2,89,69,229. The order relates to the acquired cement business of Kesoram Industries Limited and involves allegations of excess Input Tax Credit (ITC) availment, ineligible ITC claimed, and short payment of tax liability for the financial year 2022-23.
According to the company, it will contest the demand and does not anticipate a material financial impact as a result of the order. The order was received on March 24, 2026.
| Sr. No. | Particulars | Details |
|---|---|---|
| 1 | Name of the Authority | Deputy Commissioner, State Goods and Services Tax, Maharashtra |
| 2 | Nature and details of the action(s) taken, initiated or order(s) passed by the authority | Order in Original confirming a tax demand of Rs. 28,96,92,293 along with interest of Rs. 15,00,05,050 and penalty of Rs. 2,89,69,229 |
| 3 | Date and Time of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority | 24 th March, 2026 |
| 4 | Details of the violation(s) / contravention(s) committed or alleged to be committed | An Order has been passed in the matter of acquired cement business of Kesoram Industries Limited involving alleged excess ITC availment, ineligible ITC claimed and short payment of tax liability pertaining to FY 2022-23. |
| 5 | Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible | The Company would be contesting the demand and does not expect the said Order to have any material financial impact on the Company. |
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