Tata Steel wins Supreme Court case, Rs 890 cr GST demand quashed
TATASTEEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.8 pts more than Nifty 100 and 0.3 pts less than its Iron & Steel peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Tata Steel won its Supreme Court appeal against a Rs 890.52 crore GST demand linked to Input Tax Credit for FY2018-19 to FY2020-21. The Court set aside the original show cause notice and order, quashing the tax demand, an equal penalty, and applicable interest. The tax department retains limited liberty to initiate fresh proceedings under Section 74 of the CGST Act before February 28, 2027.
Positive for shareholders - removes a major Rs 890 crore plus liability overhang, though the tax department may refile limited proceedings before Feb 2027.