Akzo Nobel India Limited announced further to the Notice (dated 28th December 2023) from the Assam GST Department, an order dated 25th April 2024 has been received by on 25th April 2024. The details of any change in the status and /or any development in relation to such proceedings; A Show Cause Notice (SCN) was received by the Company from the Assam GST Department on 28th December 2023 for the Financial Year 2018-2019 mentioning disallowance of ITC for an amount aggregating to INR 2.179 million plus interest and penalty. To that, responded to the notice along with the supporting documents within the given time limit.

The Commissioner (State), Jorhat, Assam GST Department reviewed reply and issued an Order dated 25th April 2024. The demand amount as per the said Order is INR 4,591,694/- (comprising Tax: INR 2,179,780/-, Interest: INR 2,184,318/- and Penalty: INR 227,596/-). This Order is open for further submissions before the relevant authorities, and are in the process of responding within the stipulated time as mentioned in the said Order.