Tata Steel faces ₹1,132 crore GST liability in Jharkhand
after close1 source ↓written by the desknot a recommendation
- in GST
- ₹493.35 crore
- as penalty due
- ₹638.83 crore
- in GST
- ₹514.19 crore
Tata Steel Ltd has been ordered to pay a total GST liability of ₹1,132.18 crore by the Commissioner of CGST & Central Excise, Jamshedpur. 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 already paid ₹514.19 crore in GST during regular operations, leaving a potential exposure of ₹493.35 crore.
This ruling may impact Tata Steel's cash flow and investor sentiment, as it faces significant financial penalties and interest charges.
Not investment advice. For informational purposes only.