Tata Steel said on Sunday (June 29) that the tax authorities have received a notice of the cause of the performance from the tax authorities, allegedly there were about Rs 1,000 crore of suspected irregular use of input tax credits (ITCs) in the fiscal year 2018-19 to 2022-23.
According to the company, the notice was issued by the Office of the Taxation Bureau of Downtown Ranchi (audit) on June 27, 2025. It instructs Tata Steel to appear in 30 days before the additional/joint committee of the Central GST and the Central GST tax, within 30 days and within 30 days, and should not recover the Goods and Services Tax (GST Tax (GST) from 1,007.54 crore in the enterprise and explains why it is recycled.
The notice claimed that the ITC violated Section 74(1) of the Central Goods and Services Tax Act of 2017 and relevant provisions in the SGST and IGST Act.
Tata Steel clarified that it has paid Rs 51.419 crore at GST’s price in normal business processes. The notice proposed to fit this amount, bringing the remaining GST exposure to Rs 49335 crore.
The company said it believes the notice is unfounded and intends to file a case with the appropriate authorities within the prescribed time.
Tata Steel also confirmed that the financial, operational or other activities arising from the notice had no impact.
