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An announcement from Jindal Steel & Power Ltd. ( (IN:JINDALSTEL) ) is now available.
Jindal Steel Limited has disclosed that it received a GST demand order from the Joint Commissioner, CGST & Central Excise, Rourkela Commissionerate, following a GST audit in Odisha for FY 2021-22 and 2022-23, alleging excess availment of input tax credit amounting to Rs 2.15 crore, plus interest and a penalty of Rs 21.53 lakh. The company stated it is reviewing the order and considering necessary actions, including an appeal where required, while emphasizing that the amounts involved are not material and are not expected to affect its financials, operations or other business activities, suggesting limited immediate impact for shareholders and other stakeholders.
More about Jindal Steel & Power Ltd.
Jindal Steel Limited, formerly known as Jindal Steel & Power Limited, operates in the steel and power sector, manufacturing and supplying steel products with a significant presence in key industrial regions such as Odisha, positioning it as a notable player in India’s metals and infrastructure value chain.
Average Trading Volume: 27,334
Technical Sentiment Signal: Strong Buy
Current Market Cap: 1032.5B INR
For detailed information about JINDALSTEL stock, go to TipRanks’ Stock Analysis page.