Tax & Penalty27 Oct 2026, 07:00 pm
Vedanta Subsidiary ESL Steel Receives GST Demand Notice of ₹11.76 Cr
AI Summary
ESL Steel Limited, a subsidiary of Vedanta Iron And Steel Limited (VISL), has received a Demand-cum-Show Cause Notice from GST authorities for FY 2022-23 to FY 2023-24. The notice proposes recovery of GST and reversal of input tax credit amounting to ₹11,76,63,519/- (₹698.76 Lacs IGST, ₹238.94 Lacs CGST, and ₹238.94 Lacs SGST), 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.
Key Highlights
- ESL Steel, a Vedanta subsidiary, received a GST demand notice.
- Proposed GST and input tax credit reversal totals ₹11.76 Crore.
- Notice covers FY 2022-23 to FY 2023-24 audit observations.
- ESL is evaluating legal remedies.
- No significant financial or operational impact expected.
Price Impact
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