Hindustan Zinc Limited received order From the Office of the Assistant Commissioner, GST, Udaipur, confirming demand of GST related to Input Tax Credit availed by the Company which is regarded as ineligible by such Tax Authority for the Fiscal Year 2017-18: GST amounting to INR 5,978,774/-. Equivalent amount of penalty and applicable Interest. The Order pertains to demand alleged in the past through issuance of Show Cause Notice under Central Goods and Services Tax Act, 2017.

Vide this Order, the originally disputed amount of INR 7,957,478 along with equivalent amount of penalty and applicable interest has been reduced to the above-mentioned demand. Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority: Order No. 07/GST-Dem/CGSTD-A/2024 dated March 26, 2024 received by the Company on March 26, 2024.

Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible: Considering the merits of the case, the Company intends to file appeal before the Appellate Authority within time-limit prescribed under the GST Law. The Company is hopeful of a favourable outcome thereof and does not expect the said Order to have any material financial impact on the Company.