UltraTech Cement Limited — Important, 20-02-2025: General Updates

The Assistant Commissioner of CGST & CX Patna has issued an order affecting UltraTech Cement Limited, which includes the dropping of a tax demand of ₹2.57 crore while confirming a GST demand of ₹0.65 crore along with applicable interest and a penalty of ₹0.065 crore. The order stems from an alleged incorrect availment of Input Tax Credit, noted as a mismatch between GSTR-2A and GSTR-3B filings. The company is currently assessing the order and plans its next steps accordingly. Importantly, the management has indicated that there will be no material financial impact on the company from this order. Investors should watch closely as this matter unfolds.