Rathi Steel & Power Ltd. Receives Demand Order of INR 3,06,07,072 from Office of Deputy Commissioner, State Tax, SGST, Sector -11, Ghaziabad, Uttar Pradesh

Rathi Steel & Power Ltd. has received a demand order issued by the Office of Deputy Commissioner, State Tax, SGST, Sector -11, Ghaziabad, Uttar Pradesh dated March 30, 2026, under Section 74 of the CGST / SGST Act, 2017, amounting to INR 3,06,07,072 (Indian Rupees Three Crore Six Lakh Seven Thousand and Seventy-Two Only) along with a similar amount of penalty and applicable interest. The demand is related to the alleged issues of availment of ineligible / wrongful Input Tax Credit and non-payment of RCM and Penalty imposed thereon. The Company believes that the demand is not maintainable and will explore appropriate legal remedies to contest the same.