Announcement

Tata Steel Limited

19 December 2025

 

Ref.: SEC/1399/2025-26

                                                December 19, 2025

London Stock Exchange

London

Dear Madam, Sirs,

Sub: Disclosure under Regulations 30 and 51 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

This has reference to our earlier disclosure dated June 29, 2025.

Background:

Tata Steel Limited (the 'Company') had earlier 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:

a.   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;

b.   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

c.   penalty on the above said amount mentioned should not be imposed under Section 74 of the CGST/SGST Act, 2017.

The Company had already paid GST of ₹514,19,36,211/- in the normal course of business and the abovementioned GST amount was proposed to be appropriated in the Notice and therefore the alleged GST exposure was of ₹493,35,47,131/- only. Further, the Company made its submissions before the Appropriate forum within the given timelines as per the said SCN.

Present Status:

The Company on December 18, 2025, received an Order passed by the Commissioner of CGST & Central Excise, Jamshedpur, Jharkhand, directing the Company to pay a tax amount of ₹493,35,47,131, penalty of ₹638,82,62,185 and appropriate interest on the total amount of tax.

The Company believes that proper cognizance was not taken of the submissions made while adjudicating the matter. The Company has a good case on merit and hence will contest the same before the Appropriate forum within the statutory timelines. Further, there is no impact on financial, operational, or other activities of the Company, arising from the said order.

This disclosure is being made by the Company in compliance with Regulations 30 and 51 read with Para B of Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, read with related Circulars issued by the Securities and Exchange Board of India in this regard.

This is for your information and records.

 

END