UltraTech Cement Receives GST Demand ₹53.81 Cr

UltraTech Cement received a GST Order-in-Original from Additional Commissioner, Central GST, Dehradun confirming a tax demand of ₹53.81 crore.
The order also levies an equal penalty of ₹53.81 crore plus applicable interest, relating to FY 2019-20 to FY 2023-24.
The company intends to contest the demand and does not expect any material financial impact from the order.