Alok Industries Limited announced that it has received an order dated July 10, 2024 ("Order") from the Superintendent of CGST & Central Excise, Range ­ II, Division ­ VIII, Daman Commissionerate, levying on the Company a penalty of INR 10,000/- under Section 73(9) of the Central Goods and Services Tax Act, 2017 read with Section 20 of the Integrated Goods and Services Tax Act, 2017 and Section 21 of the Union Territory Goods and Services Tax Act, 2017. The Order has been passed alleging wrong availment of input tax credits of GST by the Company for the period from April 2019 to March 2020. The Company intends to file an appeal against the Order.

The financial impact of the Order is to the extent of the penalty levied. There is no impact on operations or other activities of the Company due to the Order.