United Breweries Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
UBL · price
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United Breweries Limited has received a favourable order from the Maharashtra Sales Tax Tribunal in a Central Sales Tax dispute for FY 2018-2019. The original tax demand of ₹275 Crores was first reduced to ₹7 Crores after appeal to the Joint Commissioner (Appeals) on March 28, 2024, and has now been reduced to NIL following the Tribunal's decision. The Company successfully defended its position through multiple levels of appeal. There are no financial implications from this order, and it results in a reduction of the Company's contingent liability.
Positive development for shareholders as the tax demand has been completely eliminated, reducing contingent liability and removing uncertainty over potential financial outflows.