Vedanta Subsidiary ESL Receives ₹39.58 Cr GST Demand Notice

Vedanta Iron And Steel Limited (VISL) announced that its subsidiary, ESL Steel Limited (ESL), has received a Demand-cum-Show Cause Notice from the Central Goods and Services Tax & Central Excise, Ranchi. The notice proposes a recovery of ₹39,58,32,544/- towards alleged wrongful availment and utilization of Input Tax Credit (ITC) for the financial years 2020-21 to 2022-23, along with applicable interest and penalty. ESL is currently examining the notice and will take appropriate legal steps. The company does not anticipate any significant financial or operational impact.