Kalpataru Projects International Limited announced that the Company, has received an Order under the provisions of Section 73 of the State Goods and Services Tax Act, 2017 read with relevant provisions of the Central Goods and Services Tax Act, 2017 and the rules made thereunder, from the GST Authority on 09th March, 2024. The Company has a strong case to defend the matter before the Authorities and plans to file an appeal against the said Order within prescribed timelines. Name of the authority: GST Authority.

Nature and details of the action: The authority has demanded GST along with interest and penalty for the period F.Y. 2018-19 on grounds of alleged excess claim of ITC, mismatch in ITC availed in GSTR-3B and ITC available in GSTR-2A. The authority has demanded to pay an aggregate tax amount of INR 0.875 million along with interest of INR 1.686 million and penalty of INR 0.088 million. Date of receipt order: 09th March, 2024.