UltraTech Cement on Saturday said it has received a demand notice of Rs 782.2 crore from GST authorities and plans to challenge the order before the appropriate forum, according to PTI.In a regulatory filing, the Aditya Birla Group company said it is reviewing the order and considering all legal options. “The Company is reviewing the Order, considering all legal options, and accordingly would be contesting the demand,” UltraTech Cement said, PTI quoted.The demand pertains to the period 2018-19 to 2022-23 and has been raised on account of alleged short payment of Goods and Services Tax (GST), improper utilisation of Input Tax Credit (ITC) and related matters, the company said.UltraTech added that the order was passed “without due consideration of the Company’s submissions”.According to the filing, the order upholds a tax liability of Rs 3,90,95,58,194, along with applicable interest on the tax demand, additional interest of Rs 27,68,289, and a penalty of Rs 3,90,95,58,194.The company said the order was issued by the Joint Commissioner, Central Goods and Services Tax and Central Excise, Patna, on Friday.UltraTech Cement is India’s largest cement manufacturer, with a production capacity nearing 200 million tonnes per annum.
