ESL Steel Receives GST Notice for ₹51.23 Cr ITC Allegation

Vedanta Iron And Steel Limited (VISL) subsidiary, ESL Steel Limited, has received an intimation from the Central Goods and Services Tax & Central Excise, Ranchi, regarding alleged excess availment and utilization of Input Tax Credit (ITC) on imports. The alleged contravention pertains to the period FY 2020-21 to FY 2022-23, with a total disputed ITC amount of ₹51,23,19,275. ESL is currently examining the notice and will take appropriate legal steps. The company states that this matter will not have a significant financial or operational impact.