UltraTech Cement to Contest Rs 782 Crore GST Demand

UltraTech Cement is challenging a GST demand of Rs 782.2 crore issued by the Joint Commissioner of CGST & Central Excise, Patna. The company argues the order disregards its submissions, alleging short payment and improper input credit from 2018 to 2023.

UltraTech Cement has been hit with a considerable GST demand notice amounting to Rs 782.2 crore. The company announced on Saturday that it intends to challenge this demand through the appropriate channels.

In a regulatory filing, UltraTech Cement revealed that the order involves alleged short payments of GST and improper utilization of Input Tax Credit for the period 2018-19 to 2022-23. The cement giant insists that the order was issued without adequately considering its submissions.

The notice, upheld by the Joint Commissioner of the Central Goods and Services Tax & Central Excise in Patna, levies a tax liability of Rs 390.95 crore, along with additional interest and penalties. As one of India's top cement producers, UltraTech is actively exploring its legal options to contest the demands.

(With inputs from agencies.)