UltraTech Cement Limited has informed the Exchange about Action(s) taken or orders passed
ULTRACEMCO · price
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UltraTech Cement has received an order from the Additional Commissioner, CGST & Central Excise, Ujjain, confirming a GST demand of Rs. 6.49 crore along with equal interest and penalty of Rs. 6.49 crore, taking the total potential exposure to around Rs. 19.5 crore. The demand is related to GST under Reverse Charge Mechanism on Stamp Duty and Registration Fees paid by the company for executing a lease deed. The company is reviewing the order and will decide on further action, including likely appeal. The company has stated there is no material financial impact from this order.
While the order itself is sizeable, the company has clarified there is no material financial impact, suggesting the amount is not significant relative to UltraTech's overall scale. However, the stock could see minor negative sentiment if the company decides to contest the order, leading to prolonged litigation. Investors should monitor whether the company appeals the order or accepts it.