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Informist, Thursday, May 21, 2026

 

--SC stays INR 8.91 bln GST demand against Tata Steel

 

AHMEDABAD – Tata Steel Ltd. Thursday said the Supreme Court of India Tuesday stayed all proceedings in a goods and services tax demand of INR 8.91 billion, an equal amount of penalty, and applicable interest till the next date of hearing, in a case involving irregular availment of input tax credit, the company said in a filing with the stock exchanges.

 

The dispute relates to a demand-cum-show-cause notice issued by the office of the commissioner of central GST and central excise, Jamshedpur, in June. The notice alleged irregular availment of input tax credit during FY19 through FY21, under the provisions of the Central Goods and Services Tax Act, the Jharkhand GST Act, and the Integrated GST Act. The notice was issued to the company and required it to show cause before the additional or joint commissioner, CGST and Central Excise, Jamshedpur, as to why input tax credit amounting to INR 8.91 billion was irregularly availed by the company in the three years mentioned. The company challenged this and made detailed submissions before the adjudicating authority. This authority, however, confirmed the demand for INR 8.91 billion in tax, penalty of INR 8.91 billion, and applicable interest on the total amount.

 

The apex court has now issued notices to the respondents in the case. For the March quarter, Tata Steel reported a rise of nearly 125% on year in its consolidated net profit to INR 29.26 billion. Its revenue from operations for the quarter rose over 12% on year to INR 626.87 billion. Thursday, Tata Steel shares closed at INR 208.58 on the National Stock Exchange, up nearly 1% from Wednesday.  End

 

Reported by Sunil Raghu

Edited by Rajeev Pai

 

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