Tata Steel faces ₹1,132 crore GST liability in Jharkhand
pre-market1 source ↓written by the desknot a recommendation
- by the Commissioner
- ₹1,132.18 crore
- in GST
- ₹493.35 crore
- as penalty due
- ₹638.83 crore
- in GST
- ₹514.19 crore
Tata Steel Ltd has been directed to pay a total GST liability of ₹1,132.18 crore by the Commissioner of CGST & Central Excise in Jharkhand. This includes ₹493.35 crore in GST and ₹638.83 crore as penalty due to alleged irregularities in input tax credit from FY2018-19 to FY2022-23. The company had previously paid ₹514.19 crore in GST, leaving an outstanding amount of ₹493.35 crore to address.
This significant liability could impact Tata Steel's financials and investor sentiment in the near term.
Not investment advice. For informational purposes only.