Quick Summary
UltraTech Cement Faces GST Challenges: Receives Orders Totaling Rs 18.3 Crore in Demand, Interest and Penalties In a recent development, UltraTech Cement, a leading player in the cement industry, has encountered legal challenges in the form of Goods and Services Tax (GST) demands issued by the Assistant Commissioner CGST Central Excise and Joint Commissioner Central Tax, South Kolkata. The company disclosed this information through a filing with the Bombay Stock Exchange (BSE). According
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FAQ :
UltraTech Cement has received orders totalling Rs 18.3 crore, encompassing GST demands, interest, and penalties.
The recent demands include one for Rs 17,60,661 with a penalty of Rs 1,76,066, and another for Rs 54,252 with a penalty of Rs 20,000.
The previous demand of Rs 1.14 crore was linked to an alleged non-payment of differential GST on the royalty of mined limestone.
The demand was calculated based on a differential GST rate of 13% applied to the royalty on mined limestone.
UltraTech Cement is likely to evaluate its options and consider legal recourse to address these GST demands.
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