REG - Tata Steel Limited - Order of Superintendent, CGST & Central Excise

TATA SteelAnnouncement

27/12/2023 16:00

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RNS Number : 9709X  Tata Steel Limited  27 December 2023

 
December 27, 2023

 
 

London Stock Exchange

London

 

 

Dear Sir, Madam,

 

Re: Order from the Office of Superintendent, CGST & Central Excise,
Guwahati

 

This has reference to the aforementioned subject.

 

On December 23, 2023, Tata Steel Limited ('Company') received an Order dated
December 19, 2023, from the Office of the Superintendent, Central Goods &
Service Taxes and Central Excise, Guwahati, Assam, imposing a penalty of
₹31,863/- under Section 73(9) of the CGST Act, 2017, towards irregular
availing of transitional central tax credit by the Company on implementation
of GST.

 

The Company was studying the Order and evaluating the disclosure obligations
and hence, this disclosure is being made as on the even date.

 

The details of the penalty imposed are as below:

 

 Particulars                                                                     Details
 Name of the Authority

                                                                                 Office of the Superintendent, Central Goods & Service Taxes and Central
                                                                                 Excise, Guwahati, Assam

 Nature and details of the action(s) taken,

 initiated or order(s) passed                                                    Imposition of penalty on Tata Steel Limited for irregular availing of
                                                                                 transitional central tax credit (₹3,18,634/-) on implementation of GST.

                                                                                 Tata Steel Limited has paid back the excess credit of ₹3,18,634/- to the
                                                                                 relevant tax authority along with requisite interest thereon.

                                                                                 The Order dated December 19, 2023, was received by the Company on December 23,

                                                                               2023.
 Date of receipt of direction or order,

 including any ad-interim or interim orders, or any other communication from
 the authority

 Details of the violations / contravention

 committed or alleged to be committed                                            Irregular availing of transitional central tax credit by the Company on
                                                                                 implementation of GST.

 Impact on financial, operation or other

 activities of the listed entity, quantifiable in monetary terms to the extent   There is no impact on financial, operational, or other activities of Tata
 possible                                                                        Steel Limited, arising from the Order.

 

Compliance is integral to our value system and Tata Steel takes its compliance
obligations with utmost seriousness. The Company endeavours continuously to
manage its businesses responsibly and in compliance with the statutory
requirements of the locations in which it operates, and to advance this
objective, the Company strives to constantly strengthen its compliance
systems, processes, and interventions.

 

This disclosure is made in compliance with Clause 20 - Part A of Schedule III
to Regulation 30 of Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015.

 

This is for your information and records.

 

 

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