UltraTech Cement, a leading cement manufacturer, has received two demand orders from the Goods and Services Tax (GST) authorities, amounting to Rs 72.06 lakh in total. The company has expressed its intention to challenge these orders before the appellate authorities.
The first demand order, issued by the Assistant Commissioner in Bathinda, alleges a discrepancy in the Input Service Distributor (ISD) credit not reflected in the financial statement of the fiscal year 2018. The demand is for Rs 25.11 lakh, inclusive of interest and penalties.
Subsequently, UltraTech received another order from the Deputy Commissioner of State Tax in Bhavnagar, demanding Rs 46.95 lakh, accompanied by interest and penalties. This order alleges the availing of ineligible Input Tax Credit (ITC).
In response to these developments, UltraTech Cement asserts that it has a strong case on merits to contest the matter before the Appellate Authorities. The company emphasizes that the orders will not have a significant financial impact.
UltraTech Cement, part of the Aditya Birla Group, maintains a consolidated capacity of 138.39 million tonnes per annum (MTPA) of grey cement. The company remains confident in its ability to defend against the allegations and navigate the legal proceedings effectively.
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