Share news: Tata Group company ordered to pay ₹1,132 crore in taxes and penalties

News Topical, Digital Desk : Tata Steel Limited, a Tata Group company, on Friday (December 19) said it has received an order from the office of the CGST & Central Excise Commissioner, Jamshedpur, Jharkhand, to pay a total liability of ₹1132.18 crore. This amount includes GST of Rs 493.35 crore, penalty of Rs 638.83 crore and applicable interest on the total amount. The company said the matter pertains to a show cause cum demand notice issued earlier by the office of the Commissioner (Audit), Central Tax, Ranchi, relating to alleged misuse of input tax credit. This show cause cum demand notice pertains to the period from financial year 2018-19 to 2022-23.

The company was issued a notice asking it to explain the reasons for the GST demand of ₹1,007.55 crore, interest at the prescribed rate, and penalties under GST provisions. Tata Steel clarified that it had already paid ₹514.19 crore in GST during normal business activities, leaving the alleged remaining liability at ₹493.35 crore. The company presented its arguments within the stipulated deadline, however, the Commissioner directed it to pay the tax, penalty, and applicable interest on December 18, 2025. 

Share Performance: The company's shares closed at ₹168.80 on Friday, up 0.40 percent. Over the past year, the company's shares have gained 17.83 percent.

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