United Breweries Ltd. Faces Tax Demand of ₹ 22,50,12,884 from Maharashtra VAT Department

United Breweries Ltd. has disclosed under Regulation 30 of SEBI Listing Regulations, 2015, that it has received an Order from the Deputy Commissioner of State Tax, Maharashtra State VAT Department. The demand is in relation to non-submission of declaration forms in C & F for concessional rate of tax, amounting to ₹ 22,50,12,884 for the FY 2021-22. The Company is presently evaluating the appropriate course of action and believes it has a strong case to defend the issue before the relevant appellate authority. It does not expect any financial impact except for a minimal statutory pre deposit required at the time of admission of appeal.