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| Date | 27 Dec 2023 |
| Time | 15:56:08 |
| Category | Corporate updates |
| ID | 9709X |
December 27, 2023
London Stock Exchange
London
Dear Sir, Madam,
Re: Order from the Office of Superintendent, CGST & Central Excise, Guwahati
This has reference to the aforementioned subject.
On December 23, 2023, Tata Steel Limited ('Company') received an Order dated December 19, 2023, from the Office of the Superintendent, Central Goods & Service Taxes and Central Excise, Guwahati, Assam, imposing a penalty of ₹31,863/- under Section 73(9) of the CGST Act, 2017, towards irregular availing of transitional central tax credit by the Company on implementation of GST.
The Company was studying the Order and evaluating the disclosure obligations and hence, this disclosure is being made as on the even date.
The details of the penalty imposed are as below:
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Particulars |
Details |
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Name of the Authority |
Office of the Superintendent, Central Goods & Service Taxes and Central Excise, Guwahati, Assam
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Nature and details of the action(s) taken, initiated or order(s) passed |
Imposition of penalty on Tata Steel Limited for irregular availing of transitional central tax credit (₹3,18,634/-) on implementation of GST.
Tata Steel Limited has paid back the excess credit of ₹3,18,634/- to the relevant tax authority along with requisite interest thereon.
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Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority
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The Order dated December 19, 2023, was received by the Company on December 23, 2023. |
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Details of the violations / contravention committed or alleged to be committed |
Irregular availing of transitional central tax credit by the Company on implementation of GST.
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Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible |
There is no impact on financial, operational, or other activities of Tata Steel Limited, arising from the Order.
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Compliance is integral to our value system and Tata Steel takes its compliance obligations with utmost seriousness. The Company endeavours continuously to manage its businesses responsibly and in compliance with the statutory requirements of the locations in which it operates, and to advance this objective, the Company strives to constantly strengthen its compliance systems, processes, and interventions.
This disclosure is made in compliance with Clause 20 - Part A of Schedule III to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
This is for your information and records.