Blue Star Limited has received an Order dated March 15, 2024 at 03:11 p.m. from Deputy Commissioner of State Tax, Maharashtra alleging contravention under Section 16 and 73 of Central Goods and Service Tax Act/Maharashtra Goods and Service Tax Act. The Order stipulates tax liability amounting to INR 10,857,341, Interest of INR 12,903,380, and a penalty of INR 1,285,389 aggregating to a demand of INR 25,046,110. The said demand pertains to GST Audit conducted by Maharashtra state GST Department for the period 2018 - 2019.

Name(s) of the Authority Initiating the action/passing the order Deputy Commissioner of State Tax, Maharashtra, Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority March 15, 2024. The demand is raised in relation to non-fulfilment of conditions mentioned in Section 16 of MGST Act, 2017, availment and utilisation of excess Input tax credit and ITC claimed on blocked credits as well as non-filing of returns by vendors. There is no material impact on financials, operations, or other activities of the Company.