UltraTech Cement Limited has informed the Exchange about Action(s) taken or orders passed
ULTRACEMCO · price
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On the reaction day the stock moved 0.1 pts less than Nifty 100 and in line with its Cement & Cement Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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UltraTech Cement has received an Order-in-Appeal from the Commissioner (Appeals), Nagpur, upholding an earlier demand for GST on corporate guarantees issued by the company. The order confirms a GST demand of about Rs. 5.49 crore, along with applicable interest and a penalty of Rs. 54.9 lakh (total roughly Rs. 6 crore). The dispute relates to GST applicability on corporate guarantees provided by UltraTech. The company has stated there is no material financial impact and is reviewing the order to decide on further action, which could include a further appeal.
For shareholders, the financial hit is small (around Rs. 6 crore) relative to UltraTech's overall size, so the direct impact on earnings or stock price is likely limited. However, investors should watch for any further escalation or similar GST demands, as it sets a precedent on taxation of corporate guarantees.