Akzo Nobel India Limited received show cause notice from Karnataka GST Department. Court/Tribunal/Agency: Deputy Commissioner, DGSTO - 5, Bengaluru, Karnataka GST Department. As part of the GST Audit, a Show Cause Notice u/s - 73 of CGST ACT/Rules, 2017 has been received by the Company mentioning disallowance of ITC for the period from April 2019 to March 2020 aggregating to INR 546,619,479 (comprising Tax: INR 296,246,400; Interest: INR 220,748,439; and Penalty: INR 29,624,640).

Expected financial implications: Total Liability - INR 546,619,479 (comprising Tax: INR 296,246,400; Interest: INR 220,748,439; and Penalty: INR 29,624,640) as per the said Notice. Quantum of claims Total Liability - INR 546,619,479 (comprising Tax: INR 296,246,400; Interest: INR 220,748,439; and Penalty: INR 29,624,640) as per the said Notice.