Navkar Corporation Limited informed the exchanges that the company is in receipt of Order under section 65(6) of the Gujarat Goods and Service Tax Act, 2017 dated February 16, 2024 for the completion of Audit u/s 65 for the FY-2020-21. Name of the authority: Goods & Service Tax Department; Nature and details of the action(s) taken, initiated or order(s) passed: Order under section 65(6) of the Gujarat Goods and Service Tax Act, 2017 dated February 16, 2024 for the completion of Audit u/s 65 for the FY-2020-21 has been received by the company. The order contains demand of INR 459,932 (Tax- INR 299,432 and Interest- INR 160,500) on account of ineligible Input tax credit u/s 17(5) which was already paid by the company during assessment proceedings.

There is no major impact of the same on the financial of the company.