REG - Tata Steel Limited - Disclosure under SEBI Listing Regulations, 2015

TATA SteelAnnouncement

25/06/2025 14:45

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RNS Number : 4197O  Tata Steel Limited  25 June 2025

 
 

 

June 25, 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 24, 2025, Tata Steel Limited received a Demand cum Show Cause Notice
dated June 13, 2025, issued by the Office of the Commissioner of CGST &
Central Excise, Jamshedpur, in connection with irregular availing of Input Tax
Credit in contravention of the provisions of Sections 16 and 41 of the Central
Goods and Services Tax Act, 2017 read with applicable provisions of the
Integrated Goods and Services Tax Act, 2017, for the period FY2018-19 through
FY2020-21. 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 24, 2025, Tata Steel Limited ('Company')  received a Demand cum Show
                                                                         Cause Notice dated June 13, 2025 ('SCN'), issued by the Office of the
                                                                         Commissioner of CGST & Central Excise, Jamshedpur, in connection with
                                                                         irregular availing of Input Tax Credit in contravention to the provisions of
                                                                         Sections 16 and 41 of the Central Goods and Services Tax Act, 2017 ('CGST')
                                                                         read with applicable provisions of the Integrated Goods and Services Tax Act,
                                                                         2017 ('IGST') for the period FY2018-19 through FY2020-21.

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

                                                                         1.   the Input Tax Credit amounting to ₹890,52,10,202/- which was
                                                                         irregularly availed by the Company for the period FY2018-19 through FY2020-21,
                                                                         shall not be demanded and recovered from the Company under the provisions of
                                                                         Section 74(1) of CGST/State Goods and Services Tax Act, 2017 (SGST'), as
                                                                         amended, 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
 etc./quantum of claims, if any

                                                                         The Company believes that the SCN has no merits and the Company shall make its
                                                                         submissions before the Adjudicating Authority 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.

 

 

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