UltraTech Cement slapped with two GST demand orders totalling Rs 72 lakh
On Saturday, UltraTech in a regulatory informed that it has received another order on GST from Deputy Commissioner, State Tax, Bhavnagar, raising demand for “Rs 46.95 lakh together with interest and penalty, alleging availing ineligible ITC (input tax credit )”.
Leading cement maker UltraTech Cement has received two demand orders, interest and penalties totalling Rs 72.06 lakh from the GST authorities.
The company said it will challenge the orders before the appellate authorities.
It has received an order from Assistant Commissioner, Bathinda, for a demand of “Rs 25.11 lakh together with interest and penalty, alleging that the ISD (Input Service Distributor) credit not reflected” in the statement of FY18, the Aditya Birla Group firm said in a regulatory filing on Friday.
On Saturday, UltraTech in a regulatory informed that it has received another order on GST from Deputy Commissioner, State Tax, Bhavnagar, raising demand for “Rs 46.95 lakh together with interest and penalty, alleging availing ineligible ITC (input tax credit )”.
According to UltraTech, it has a “good case on merits to defend the matter before the Appellate Authorities” and shall contest the order.
The order has no major financial impact on the company, it added.
The Aditya Birla Group firm has a consolidated capacity of 138.39 million tonnes per annum (MTPA) of grey cement.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Jan 02 2024 | 12:24 AM IST