Tata Steel Limited has filed a writ petition before the Hon'ble High Court of Jharkhand challenging a GST adjudication order that imposes significant financial demands on the company. The petition, filed on March 11, 2026, seeks to quash an order passed by the Commissioner of CGST & Central Excise, Jamshedpur, Jharkhand dated December 18, 2025.

GST Demand and Penalty Details

The adjudication order directs the company to pay substantial amounts across multiple components:

The financial exposure stems from a show cause cum demand notice dated June 27, 2025, which proposed disallowance of Input Tax Credit for the period covering FY2018-19 through FY2022-23. The original GST amount demanded totaled ₹1007,54,83,342/-, but Tata Steel had already paid ₹514,19,36,211/- in the normal course of business, reducing the contested exposure to ₹493,35,47,131/-.

Background of the GST Matter

The show cause notice was issued by the Office of the Commissioner (Audit), Central Tax, Ranchi, citing contraventions of Section 74(1) of the Central Goods and Services Tax Act, 2017/State Goods and Services Act, 2017 read with Section 20 of the Integrated Goods and Services Tax Act, 2017. The company was required to show cause before the Additional/Joint Commissioner of Central GST & Central Excise, Jamshedpur, Jharkhand.

Tata Steel made detailed submissions before the appropriate forum within the stipulated timelines as per the show cause notice requirements. The company had previously disclosed this matter to stock exchanges on June 29, 2025 and December 19, 2025.

Company's Position and Legal Challenge

Tata Steel has evaluated the Commissioner's order and believes that proper cognizance of the submissions made by the company was not taken during the adjudication process. The company maintains confidence in its position, stating it has a good case on merits.

Key aspects of the company's stance include:

• Belief that submissions were not adequately considered during adjudication
• Confidence in the merits of its case
• Decision to pursue legal remedy through the High Court
• Compliance with disclosure obligations under SEBI regulations

Regulatory Compliance and Disclosure

The latest disclosure was made through an official communication dated March 12, 2026, with reference number SEC/2070/2025-26, addressed to both BSE Limited and National Stock Exchange of India Limited. The communication was signed by Parvatheesam Kanchinadham, Company Secretary and Chief Legal Officer.

The disclosure was made in compliance with Regulations 30 and 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company noted it was reviewing its disclosure obligations, leading to this formal communication with stock exchanges.

The matter represents a significant financial exposure for Tata Steel, with the combined tax demand and penalty exceeding ₹1,130.00 crore, excluding interest calculations. The outcome of the writ petition will determine the company's liability in this GST matter spanning multiple financial years.

Tata Steel Limited has announced the acquisition of a significant equity stake in its wholly owned foreign subsidiary T Steel Holdings Pte. Ltd (TSH) for USD 264 million, equivalent to ₹2,401.50 crore. The transaction was completed on February 26, 2026, as disclosed to the stock exchanges under regulatory compliance requirements.

Transaction Details

The acquisition involved the purchase of 261,90,47,620 equity shares with a face value of USD 0.1008 each. The total transaction value represents a substantial investment by the steel major in strengthening its subsidiary operations.

Regulatory Compliance and Previous Disclosures

This latest acquisition follows a series of previous fund infusion disclosures made by the company throughout 2025 and early 2026. The company had previously informed the exchanges about similar transactions on multiple dates:

• May 12, 2025
• June 25, 2025
• July 10, 2025
• August 26, 2025
• September 24, 2025
• October 29, 2025
• December 19, 2025
• February 2, 2026

Subsidiary Status and Exchange Rate

Following this acquisition, TSH will continue to operate as a wholly owned foreign subsidiary of Tata Steel Limited. The USD to INR conversion was calculated using the exchange rate of ₹90.9661 per USD, as published by the Reserve Bank of India on February 24, 2026.

The disclosure was made in compliance with Regulation 30 and 51 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The announcement was signed by Parvatheesam Kanchinadham, Company Secretary and Chief Legal Officer of Tata Steel Limited.