Jindal Steel Receives GST Order on Alleged Excess Input Tax Credit
Jindal Steel Limited has informed the stock exchanges that it has received an order from the Additional Commissioner, CGST & Central Excise, Rourkela Commissionerate.
Key Details of the Order
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Nature of allegation: Excess Input Tax Credit (ITC) claimed and utilised beyond the amount reported in GSTR-2A
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Period involved: June 2020 to March 2022
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Alleged excess ITC amount: ₹8,41,20,475
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Directions in the order: Recovery under Section 74(1) of the CGST Act, confirmation of interest under Section 50, and imposition of an equal penalty of ₹8,41,20,475 under Sections 74 and 122 of the CGST Act
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Date of receipt of communication: 10 November 2026
Company’s Position
The Company is evaluating the order and will take necessary action, including filing an appeal, as considered appropriate.
Based on its assessment, the amounts involved are not material and are not expected to have any material impact on the financial, operational or other activities of the Company.
The disclosure has been made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.