Cementing Its Stand: UltraTech Challenges ₹538 Crore GST Demand

India’s largest cement producer, UltraTech Cement, disclosed that the Additional Commissioner of Central GST, Dehradun, has passed an order raising significant tax demands. The matter relates to alleged differential tax liability and non-reversal of input tax credit (ITC) for FY 2019–20 to FY 2023–24.  

Regulatory Action And Order  
The order in original confirms a tax demand of Rs 53,81,19,148 plus applicable interest, along with a penalty of the same amount. The directive was received on March 31, 2026.  

Company’s Response  
UltraTech Cement has clarified that it will contest the demand and does not anticipate any material financial impact on its operations or financials.  

Key Highlights  

• Order passed by Additional Commissioner, CGST, Dehradun  
• Tax demand of Rs 538.1 crore plus interest  
• Penalty of Rs 538.1 crore imposed  
• Matter relates to FY 2019–20 to FY 2023–24  
• Company to contest demand, expects no material impact  

Sources: UltraTech Cement Limited regulatory filing, BSE/NSE disclosure