UltraTech Cement Faces ₹782 Cr Tax Notice; Stock Action Expected

• UltraTech Cement received a ₹782 crore tax notice from GST authorities in Patna.
• The notice includes ₹390 crore for alleged tax arrears, ₹390 crore penalty, and ₹28 lakh interest.
• The demand is for alleged underpayment of GST and incorrect ITC utilization from 2018-19 to 2022-23.
• The amount is approximately two-thirds of the company's Q2 FY25 profit of ₹1,232 crore.
• UltraTech Cement plans to challenge the order, stating it expects no operational or financial impact.

Why It Matters: UltraTech Cement faces a significant tax demand, but plans to contest it, expecting no major impact.