On October 4, 2024, Tata Steel Limited received an Order dated September 26, 2024, from the Office of Commissioner of Customs (Appeals), Kolkata, West Bengal, confirming the order dated March 18, 2024 passed by the Additional Commissioner of Customs, Kolkata and imposing a penalty of INR 430,172/- under Section 114A of the Customs Act, 1962 towards inadvertent short payment of IGST amounting to INR 430,172/- against goods imported by the Company from Bhutan. On December 2, 2024, the Company paid the penalty of INR 430,172/- to the concerned authority. Details of the violations- Short payment of IGST against goods imported by the Company from Bhutan.

There is no impact on financial, operational, or other activities of Tata Steel Limited, arising from the Order.