The first order, issued by the Assistant Commissioner in Bathinda, demands Rs 25.11 lakh, inclusive of interest and penalty. The allegation is centered on the Input Service Distributor (ISD) credit not being reflected in the financial statement for the fiscal year 2018.
In a recent regulatory filing on Friday, UltraTech Cement, a prominent player in the cement industry, revealed that it has been served with two GST demand orders, along with interest and penalties, amounting to Rs 72.06 lakh by the GST authorities. The Aditya Birla Group firm has expressed its intention to challenge these orders before the appellate authorities.
The first order, issued by the Assistant Commissioner in Bathinda, demands Rs 25.11 lakh, inclusive of interest and penalty. The allegation is centered on the Input Service Distributor (ISD) credit not being reflected in the financial statement for the fiscal year 2018.
Following this, on Saturday, UltraTech disclosed another GST order received from the Deputy Commissioner of State Tax in Bhavnagar. This order raises a demand of Rs 46.95 lakh, along with interest and penalty, citing the alleged availing of ineligible Input Tax Credit (ITC).
UltraTech Cement maintains that it has a “good case on merits to defend the matter before the Appellate Authorities” and is committed to contesting these orders. The company asserts that the financial impact of these orders on its operations is not significant.
With a consolidated capacity of 138.39 million tonnes per annum (MTPA) of grey cement, the Aditya Birla Group firm remains a key player in the cement manufacturing sector.
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