

Tata Steel Marathi News: Tata Steel, one of the largest steel companies in the country, has given a big push by the Income Tax Department. On Sunday, the company informed the Stock Exchange that they received a show cause notice from the Central Tax Commissioner’s Office in Ranchi on June 7.
In this notice, Tata Steel is accused of misusing input tax credit (ITC) between the financial year 1-5 to 3-5. The tax department has demanded the company to recover a GST of Rs.
Do you know the salary of Anant Ambani? Appointment of Executive Director of Reliance Industries; Every year ‘so much’ Rs’ crore rupees
Tata Steel said in his statement that the notice of the department has stated that there was a violation of section 4 (1) of Section 2 (2) of the CGST/SGST Act, and section 2 of the IGST Act. The department claims that the company incorrectly took advantage of input tax credit, which is against the rules. However, Tata Steel has said the notice is baseless and it will answer it in the stipulated time.
More than half the tax is already paid: Tata Steel
The company made it clear that they have already deposited GST of Rs. The notice states that the amount will be adjusted, after which the outstanding GST amount will be Rs.
Tata Steel says there is no fact in the allegations made in the notice, and they will answer the matter properly. The company has also said that this notice will not affect their financial, operational or other business activities.
Under the GST Act, companies can claim credit for taxes on purchases used in their business, which they use to reduce their output tax liabilities. But if the credit is misused or the claim is found in the claim, the tax department inquires and can take action. Tata Steel says that it will respond to the most transparently in this case and follow the legal process.
Affect the shares
This news can adversely affect Tata Steel’s shares. Experts estimate that when the market opens on June 30, Tata Steel shares can be seen a big fall. Therefore, the shareholders should invest in a cautious role.
Enthusiasm in the stock market, a huge increase in market value of 3 companies including Reliance! Know
-
Dhoni makes a BIG move after IPL 2025 season, he has decided to…
-
Aishwarya Rai once romanced with Salman Khan after breaking up with him, was involved in this intimate scene, film is…
-
Amul is now top Indian food brand, second place goes to…; check full list here
-
Shefali Jariwala Dies At 42: What Makes Women Prone To Heart-Related Illness?
-
'Gangrape' Of Kolkata Law Student Was Pre-Planned; Accused Trio Targeted Victim For Quite Some Time: Police