Vedanta Iron and Steel's Subsidiary Faces Proposed GST Recovery of Rs 11.76 Crore Plus Interest and Penalty:

Vedanta Iron and Steel Limited has informed the stock exchanges that its subsidiary, ESL Steel Limited (ESL), has received a Demand-cum-Show Cause Notice (SCN).

The notice has been issued by the Joint Commissioner, GST & Central Excise, Audit Bhubaneswar, GST Authorities, in connection with certain observations arising out of GST audit proceedings for FY 2022-23 to FY 2023-24, and the company received the same on Monday, October 26, 2026, at around 04:25 pm.

The notice has proposed recovery of GST and reversal of input tax credit aggregating to Rs 11.76 crore (comprising IGST of Rs 6.98 crore, CGST of Rs 2.38 crore and SGST of Rs 2.38 crore), along with applicable interest and penalty, in relation to certain GST matters identified during audit proceedings for FY 2022-23 to FY 2023-24.

The company is presently examining the notice and has assured that it will take appropriate steps in accordance with applicable laws within the prescribed timelines. Further, the company does not expect the present action to impact its financial, operational, and business activities.

Vedanta Iron and Steel Limited has made the aforementioned disclosure to the National Stock Exchange of India Limited (NSE) and Bombay Stock Exchange Limited (BSE) vide an Intimation dated October 27, 2026, passed under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.