UltraTech Cement Ltd. on Saturday said it has received a GST demand notice for a total payment of Rs 782.2 crore, which it plans to contest before the appropriate forum.
'The company is reviewing the order, considering all legal options, and accordingly would be contesting the demand,' UltraTech Cement said in a regulatory filing.
The order has been passed in various matters on account of 'alleged short payment of GST, improper utilisation of Input Tax Credit, etc' during the period 2018-19 to 2022-23, the company said.
The order is passed 'without due consideration of the company’s submissions.' The order passed against it is 'upholding tax liability of Rs 3,90,95,58,194/- plus applicable interest on tax demand; additional interest Rs 27,68,289/- and penalty of Rs 3,90,95,58,194/', the filing said.
The Aditya Birla flagship firm has received the order passed by the Joint Commissioner, Central Goods and Services Tax & Central Excise, Patna, on Friday.
UltraTech is the country's leading cement maker, with a capacity nearing 200 million tonnes per annum.
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