Disclosure under Reg 30&51 of SEBI LODR, 2015

Tata Steel Limited

26 June 2026

 

Ref.: SEC/572/2026-27

                                                June 26, 2026

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 disclosures dated June 29, 2025, December 19, 2025, March 12, 2026 and March 25, 2026.

Background:

Tata Steel Limited (the 'Company') had earlier informed that it has received a show cause cum demand notice ('SCN') dated June 27, 2025 from the Office of the Commissioner (Audit), Central Tax, Ranchi, proposing disallowance 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 as to why the Goods and Service Tax ('GST') amounting to ₹1007,54,83,342/- along with interest/penalty, if any, shall not be demanded and recovered from the Company. Of the aggregate GST amount demanded, the Company had already paid GST of ₹514,19,36,211/- in the normal course of business and therefore the alleged GST exposure was of ₹493,35,47,131/- only. Further, the Company made its detailed submissions before the appropriate forum within the given timelines as per the said SCN.

Subsequently, on December 19, 2025, the Company had informed receipt of Adjudication Order from the Commissioner of CGST & Central Excise, Jamshedpur, Jharkhand ('Adjudicating Authority') on December 18, 2025, directing the payment of tax amounting to ₹493,35,47,131, penalty of ₹638,82,62,185 and appropriate interest on the total amount of tax. In the said Adjudication Order, the Adjudicating Authority had dropped the penalty amount of ₹368,72,21,158/- earlier proposed in the SCN.

Thereafter, the Company filed a Writ Petition before the Hon'ble High Court of Jharkhand on March 11, 2026, challenging the Order passed by Commissioner of CGST & Central Excise, Jamshedpur, Jharkhand dated December 18, 2025, and seeking quashing of the Order. The matter was heard by the Hon'ble High Court of Jharkhand ('Hon'ble High Court') on March 24, 2026. As earlier informed by the Company, the Hon'ble High Court has granted stay on all further proceedings relating to this matter, until the next date of hearing.

Present Case:

On June 16, 2026, the Assistant Commissioner, Division-I, CGST & Central Excise, Jamshedpur, Jharkhand ('Department') filed an appeal before the Commissioner (Appeals) of CGST & Central Excise, Ranchi against the above-mentioned Adjudication Order dated December 18, 2026, to the extent that the Adjudicating Authority has dropped the penalty amounting to ₹368,72,21,158/-.

The Company notes that the Department has filed an appeal pertaining to the levy of penalty amounting to ₹368,72,21,158/-. However, this matter is, inter alia, contingent upon the final adjudication of the issue concerning the issuance of show cause notices for multiple periods, which is presently sub judice before the Hon'ble High Court.

The Company is of the considered view that it has a good case on merit and hence will contest the same before the Appellate Authority within the statutory timelines. Further, there is no impact on financial, operational, or other activities of the Company, arising from the said appeal.

The Management was studying the impact of the appeal application on the Company and further course of action and hence, this disclosure is being made even date.

This disclosure is being made by the Company in compliance with Regulations 30 and 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

This is for your information and records.

 

END