UltraTech Cement receives GST Demand of Rs.7.92 crore on account of GSTR-2A-3B mismatch:

UltraTech Cement receives GST Demand of Rs.7.92 crore on account of GSTR-2A-3B mismatch UltraTech Cement Limited said in a regulatory filing on April 22, 2024, that it has received an order from the Deputy Commissioner, Divisional GST Office (DGSTO), Kalaburagi, Karnataka, demanding payment of Rs.7,92,35,823 in GST, interest, and penalties. The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Tax demand is issued by the Deputy Commissioner of DGSTO, Kalaburagi (Karnataka). It was alleged that the demand issued is because of non-reversal of ITC (Input Tax Credit) on Short declaration of tax by vendor in GSTR-3B and also non-reversal of ITC on inward supply invoices not reflected in GSTR-2A. "The demand order has been received on non-reversal of ITC in GSTR-3B and GSTR-2A, the tax demand consists of GST of Rs.3,93,17,375, Interest of Rs.3,59,86,710 and Penalty of Rs.39,31,738," the Company said. In a letter to shareholders and investors, Sanjeeb Kumar Chatterjee, the Company Secretary and Compliance Officer, indicated that "the company has a good case on merits and will contest the order."