UltraTech Cement Limited — Important, 24-12-2024: General Updates

UltraTech Cement Limited has received an order from the Additional Commissioner of CGST & Central Excise in Ujjain, confirming a demand for GST along with interest and penalties amounting to ₹17.02 crore. The order relates to an alleged non-payment of GST on royalty payments made under the reverse charge mechanism. The company is currently reviewing the order and will determine its next steps. This situation could potentially strain financial resources due to the imposed tax liability, and investors should monitor developments closely for insights into the company’s financial stability moving forward.