UltraTech Cement gets Rs. 20 Lakh GST Demands and Penalty Order
Cement Manufacture Giant UltraTech Cement has received a GST Demand Order, totalling above Rs. 20 Lakhs
Cement Manufacturer UltraTech Cement has reported receiving GST orders from the Assistant Commissioner CGST & Central Excise and Joint Commissioner – Central Tax, South Kolkata. These orders allege ineligible input tax credit transitioned to GST. In a BSE filing, the company disclosed that the first order confirms a GST demand of Rs 17,60,661, with applicable interest and a penalty...
Cement Manufacturer UltraTech Cement has reported receiving GST orders from the Assistant Commissioner CGST & Central Excise and Joint Commissioner – Central Tax, South Kolkata.
These orders allege ineligible input tax credit transitioned to GST. In a BSE filing, the company disclosed that the first order confirms a GST demand of Rs 17,60,661, with applicable interest and a penalty of Rs 1,76,066.
The second order is for a GST demand of Rs. 54,252, with interest and a penalty of Rs. 20,000.
In November 2023, the company received an order from the Assistant Commissioner, CGST & C. Ex Division 3, Bhavnagar. This order raised a demand for GST amounting to Rs 1.14 crore, along with interest and an equivalent penalty. The demand was related to the alleged non-payment of differential GST on royalty of mined limestone, as stated in the regulatory filing.
The order confirmed the demand for GST at Rs. 1,14,87,546, along with interest and a penalty of Rs 1,14,87,546. This was based on the calculation of differential GST at 13% (18% less 5%) on the royalty of mined limestone.
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