Tata Steel Ltd.

Tata Steel has informed that it had received a Show Cause cum demand Notice (‘SCN’) from 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. The SCN required the Company to show cause before the Additional/Joint Commissioner of Central GST & Central Excise, Jamshedpur, Jharkhand (Adjudicating Authority’) as to why: 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; 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 penalty on the above said amount mentioned should not be imposed under Section 74 of the CGST/SGST Act, 2017.

The above information is a part of company’s filings submitted to BSE.