JSW Steel Limited — Important, 08-02-2025: General Updates

The company has received a demand order from the CGST and Central Excise office in Rourkela, amounting to ₹20.31 crore, relating to GST, along with applicable interest and a penalty of the same amount. This demand stems from the period between July 2017 and December 2020 and concerns GST on NPV charges paid to the Government of India under the Reverse Charge Mechanism. JSW Steel disputes this demand, citing that the NPV charges should not be subject to GST as per legal provisions. The company has already made the payment while reserving its right to contest the penalty, which it views as unsustainable. Despite the ongoing legal matter, JSW Steel does not foresee any financial or operational impact from this situation.