UltraTech Cement has received a tax demand order from the Maharashtra GST Authority, amounting to Rs 289.7 million, along with interest and penalty. The company plans to contest the order and has stated that it does not expect any material financial impact on its operations.
UltraTech Cement Limited has disclosed to stock exchanges that the Deputy Commissioner of State GST, Maharashtra, has passed an order confirming a significant tax demand. The matter relates to the acquired cement business of Kesoram Industries Limited and alleged irregularities in input tax credit (ITC) claims.
Regulatory Action
The order, dated March 24, 2026, confirms a demand of Rs 28.96 crore in taxes, Rs 15 crore in interest, and Rs 2.89 crore in penalty. The alleged violations pertain to excess ITC availment, ineligible ITC claims, and short payment of tax liability for FY 2022-23.
Company Response
UltraTech Cement has clarified that it will contest the demand and does not foresee any material financial impact. The company emphasized that its operations and financial stability remain unaffected.
Key Highlights
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Tax demand: Rs 28.96 crore
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Interest: Rs 15 crore
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Penalty: Rs 2.89 crore
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Matter linked to Kesoram Industries acquisition
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Company expects no material financial impact
Sources: UltraTech Cement Limited regulatory filing, BSE disclosure