Mumbai, Dec 21 (IANS) UltraTech Cement Limited has received a tax demand order from the Joint Commissioner of Central Goods and Services Tax and Central Excise, Patna, asking the company to pay alleged dues of about Rs 390 crore.

Along with this, the company has also been asked to pay a penalty of a similar amount and interest of around Rs 28 lakh.

In a regulatory filing, UltraTech Cement Ltd said the demand relates to alleged short payment of Goods and Services Tax, improper use of input tax credit and other related issues.

“The Company has received an Order from the Joint Commissioner, Central Goods and Services Tax & Central Excise, Patna,” it said in its filing.

The case covers the period from the financial year 2018-19 to 2022-23.

The total penalty and interest together account for nearly two-thirds of the company’s profit of Rs 1,232 crore reported for the second quarter ended September 2025.

During the same quarter, the country’s largest cement maker reported a strong performance, with revenue rising 20.3 per cent year-on-year to Rs 19,607 crore.

“Order in Original passed 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 company added.

However, the company said it is considering all legal options and plans to challenge the order.

UltraTech added that it does not expect the tax demand to have any impact on its operations or financial position.

The company is scheduled to announce its earnings for the ongoing third quarter on January 24, 2026.

“The Company is reviewing the Order, considering all legal options, and accordingly would be contesting the demand, and does not expect the said Order to have any operational/financial impact on the Company,” it added.

Meanwhile, UltraTech Cement shares have remained largely flat so far this year. On the latest trading day, the stock closed at Rs 11,497, up Rs 36 or 0.31 per cent.

–IANS

pk