On June 28, 2025, Tata Steel Limited 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 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 INR 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.
Tata Steel Limited is an India-based global steel company with an annual crude steel capacity of approximately 35 million tons per annum. The Company is primarily engaged in the business of manufacturing and distribution of steel products across the globe. The Company and its subsidiaries have a presence across the value chain of steel manufacturing, from mining and processing iron ore and coal to producing and distributing finished products. Its products include cold rolled (Non-branded), BP sheets, Galvano, HR commercial, hot rolled pickled and oiled and hot rolled skin passed pickled and oiled, high tensile steel strapping, pre-engineered buildings, projects/ tenders, construction and projects, and full hard cold rolled. The Company's brands include MagiZinc, Ymagine, Ympress, Contiflo, Strongbox, SAB Profil, Fischer Profil, Montana, Advantica, Fischertherm, Fischerfireproof, Montanatherm, Montapanel, Swiss Panel, Holorib, Serica, MagiZinc Auto, HyperForm, HILUMIN and Colorcoat.
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Investor
Investor
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Global
Global
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Quality
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ESG MSCI
ESG MSCI
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