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

UltraTech Cement Limited has received an order from the Assistant Commissioner CGST & CX Patna regarding tax matters. The order confirms a GST demand of ₹65.25 crore, with interest and a penalty of ₹6.52 crore, while dropping a tax of ₹25.75 crore. The issue stems from alleged incorrect availment of Input Tax Credit, specifically a mismatch between GSTR-2A and GSTR-3B filings. The company is currently reviewing the order to determine its next steps. Importantly, the management noted that there is no material financial impact on the company, which suggests a positive outlook amid the situation. Investors should watch closely for further updates as the company proceeds with its review.