UltraTech Cement Limited has disclosed receiving an order from GST authorities regarding tax demand and penalty totaling ₹51.47 lakh. The company made this disclosure on March 26, 2026, in compliance with Regulation 30 of SEBI listing obligations.

GST Authority Order Details

The Assistant Commissioner, Central Goods and Services Tax, Kerala, has passed an Order in Original against UltraTech Cement. The order was received by the company on March 25, 2026.

Nature of Alleged Violation

The GST order pertains to alleged irregular availment of Input Tax Credit (ITC) on blocked credit. The violation period spans from FY2019-20 to FY2022-23, covering a four-year period of the company's operations.

The order specifically addresses issues related to ITC availment that the GST authority considers to be irregular under the applicable tax regulations.

Company's Response and Financial Impact

UltraTech Cement has indicated its intention to contest the demand imposed by the GST authority. The company has stated that it does not expect the order to have any material financial impact on its operations.

Key Company Positions:

• Plans to contest the GST demand through appropriate legal channels
• Expects no material financial impact from the order
• Maintains compliance with regulatory disclosure requirements

Regulatory Compliance

The disclosure was made in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer Dhiraj Kapoor signed the disclosure document on March 26, 2026.

The company has informed all relevant stock exchanges including BSE Limited, National Stock Exchange of India Limited, Luxembourg Stock Exchange, and Singapore Exchange about this development as part of its regulatory obligations.

UltraTech Cement Limited has informed stock exchanges about receiving a significant GST authority order that confirms a tax demand of Rs. 28,96,92,293, along with associated interest and penalty components. The disclosure was made on March 25th, 2026, in compliance with Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements.

GST Order Details

The order was issued by the Deputy Commissioner, State Goods and Services Tax, Maharashtra, and was received by the company on March 24th, 2026. The comprehensive demand structure includes multiple components that significantly increase the total liability beyond the primary tax amount.

Nature of Alleged Violations

The GST order pertains to the acquired cement business of Kesoram Industries Limited and covers financial year 2022-23. The authority has identified several specific contraventions in its assessment of the company's tax compliance.

The alleged violations include:

• Excess Input Tax Credit (ITC) availment
• Ineligible ITC claimed
• Short payment of tax liability

These issues relate specifically to the cement business operations that UltraTech Cement acquired from Kesoram Industries Limited, indicating that the tax matters may have originated from the previous ownership structure.

Company's Response and Financial Impact

UltraTech Cement has indicated its intention to contest the demand through appropriate legal channels. The company's management has assessed the potential financial implications and provided guidance on the expected impact.

According to the company's disclosure, it does not expect the GST order to have any material financial impact on its operations. This assessment suggests that the company either has strong grounds for appeal or sufficient financial resources to manage the potential liability without affecting its core business activities.

Regulatory Compliance

The disclosure was made to both BSE Limited and The National Stock Exchange of India Limited, fulfilling the company's obligations under securities regulations. Company Secretary and Compliance Officer Dhiraj Kapoor signed the disclosure document, ensuring proper corporate governance protocols were followed.

The company also informed international exchanges where its securities are listed, including the Luxembourg Stock Exchange and Singapore Exchange, maintaining transparency across all trading platforms where UltraTech Cement securities are available to investors.