REG - Tata Steel Limited - Disclosure under Reg 30 of SEBI Listing Regulation

TATA SteelAnnouncement

30/06/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250630:nRSd8567Oa&default-theme=true

RNS Number : 8567O  Tata Steel Limited  29 June 2025

 
 

 

June 29, 2025

 

London Stock Exchange

London

 

Dear Madam, Sirs,

 

Sub: Disclosure under Regulation 30 of Securities and Exchange Board of India
(Listing Obligations and Disclosure Requirements) Regulations, 2015

 

This has reference to the aforementioned subject.

 

On June 28, 2025, Tata Steel Limited received a Show Cause cum demand Notice
dated June 27, 2025, issued by the Office of the Commissioner (Audit), Central
Tax, Ranchi, proposing to disallow/demand primarily on account of alleged
irregular availment of Input Tax Credit in contravention of the provisions of
Section 74(1) of the Central Goods and Services Tax Act, 2017/State Goods and
Services Act, 2017 read with Section 20 of the Integrated Goods and Services
Tax Act, 2017, for the period FY2018-19 through FY2022-23. Further details of
the SCN are provided in the table below:

 

 Particulars                                                             Details
 Brief details of litigation viz. name(s) of the opposing party, court/
 tribunal/ agency where litigation is filed, brief details of

 dispute/litigation.                                                     On June 28, 2025, Tata Steel Limited ('Company')  received a Show Cause cum
                                                                         demand Notice dated June 27, 2025 ('SCN'), issued by the Office of the
                                                                         Commissioner (Audit), Central Tax, Ranchi, proposing to disallow/demand
                                                                         primarily on account of alleged irregular availment of Input Tax Credit in
                                                                         contravention of the provisions of Section 74(1) of the Central Goods and
                                                                         Services Tax Act, 2017/State Goods and Services Act, 2017  ('CGST/SGST') read
                                                                         with Section 20 Integrated Goods and Services Tax Act, 2017 ('IGST') for the
                                                                         period FY2018-19 through FY2022-23.

                                                                         As per the SCN, the Company is required to show cause before the
                                                                         Additional/Joint Commissioner of Central GST & Central Excise, Jamshedpur,
                                                                         Jharkhand (Adjudicating Authority') within 30 days of receipt of the SCN as to
                                                                         why:

                                                                         1.   the Goods and Service Tax ('GST') amounting to ₹1007,54,83,342/- for
                                                                         the period FY2018-19 through FY2022-23, shall not be demanded and recovered
                                                                         from the Company under the provisions of Section 74(1) of CGST/SGST, read with
                                                                         Section 20 of IGST;

                                                                         2.   interest at the appropriate rate on the above said amount mentioned
                                                                         should not be demanded under Section 50 of the CGST/SGST Act, 2017; and

                                                                         3.   penalty on the above said amount mentioned should not be imposed under
                                                                         Section 74 of the CGST/SGST Act, 2017.

 Expected financial implications, if any, due to compensation, penalty   The Company has already paid GST of ₹514,19,36,211/- in the normal course of
 etc./quantum of claims, if any                                          business. Above GST amount is proposed to be appropriated in Notice and
                                                                         therefore alleged GST exposure is ₹493,35,47,131/- only.

                                                                         The Company believes that the SCN has no merits and the Company shall make its
                                                                         submissions before the Appropriate forum within the given timelines.

                                                                         There is no impact on financial, operational, or other activities of the
                                                                         Company, arising from the said SCN.

 

This disclosure is being made by the Company in compliance with Regulations 30
and 51 read with Para B of Part A of Schedule III of the Securities and
Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015, as amended, read with related SEBI Circulars issued in this
regard.

 

This is for your information and records.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCPPUWCQUPAUQB