Tax & Penalty10 Oct 2026, 05:00 pm
Rathi Steel receives ₹59.45 Lakhs GST demand order
AI Summary
Rathi Steel & Power Ltd has received a demand order from the Office of the Additional Commissioner, GST & Central Excise, Rourkela, for INR 59,44,859 (₹59.45 Lakhs). The demand pertains to interest on delayed GST payments for January 2021, under Section 74 of the CGST Act, 2017. The company believes the demand is not maintainable and plans to explore legal remedies to contest it. Rathi Steel stated that no material impact on its financial or operational activities is foreseen.
Key Highlights
- Received GST demand order of ₹59.45 Lakhs.
- Demand relates to interest on delayed GST payments.
- Company disputes the demand and will contest legally.
- No material financial or operational impact anticipated.
Price Impact
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