CEAT Limited informed that Order confirming GST demand along with interest and/or penalty has been issued by the Assistant Commissioner of State Tax, Bihar. The GST Department has passed an Order under Section 73 of the State Goods & Service Tax Act, 2017 in the state of Bihar, for the Financial Year 2018-19 disallowing Input Tax Credit of Rs.14.13 lakhs claimed on Credit Notes issued to the customers and levied interest @18% p.a. together with penalty @10%. The Company is actively analyzing the matter and will be filing an appeal for the demand amount confirmed in the Order.

Copy of the communication from the Authority was received by the Officers of the Company as specified for the purpose under the Policy for Determining Materiality of Events, on March 7, 2024 at 5.18 p.m. Since the matter is being pursued against the Order, final impact on financial, operation or other activities may not be ascertainable as of now.