Rathi Steel & Power Ltd. Receives Demand Order from State Tax Authority
Rathi Steel & Power Ltd. announced that it received a demand order from the Office of the Deputy Commissioner, State Tax, SGST, Sector -11, Ghaziabad, Uttar Pradesh, dated March 30, 2026. The order pertains to Section 74 of the CGST / SGST Act, 2017, and includes a demand for INR 3,06,07,072 along with a penalty of a similar amount and applicable interest.The company refutes the allegations, stating that the demand is not maintainable and that it will pursue appropriate legal remedies. Management does not anticipate a material impact on the company's financial, operational, or other activities as a result of this order.
Details of the Demand Order:
| Detail | Information |
|---|---|
| Authority | Office of the Deputy Commissioner, State Tax, SGST, Sector -11, Ghaziabad, Uttar Pradesh |
| Demand Amount | INR 3,06,07,072 |
| Penalty Amount | Similar amount to the demand |
| Date of Order Receipt | March 30, 2026 |
| Alleged Violation | Availment of ineligible/wrongful Input Tax Credit, non-payment of Reverse Charge Mechanism |
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