CEAT Limited announced that it order confirming GST demand along with interest and/or penalty have been issued by the Superintendent, GST & Central Excise, Bhubaneswar, Orissa; and Assistant Commissioner, CSGT & CEX Division, Kanpur, Uttar Pradesh. Nature and details of the action(s) taken, initiated or order(s) passed: The GST Department has passed an order under Section 73 of the State Goods & Service Tax Act, 2017 in the state of Orissa, for the Financial Year 2018-19, disallowing Input Tax Credit of INR 0.95 Million on account negative balance appearing in Table 8D of GSTR9 along with applicable interest and penalty of INR 0.95 Million. The Company believes that it has not defaulted on the applicable provisions of the statute and is actively analyzing the matter for filing an appeal for the demand amount confirmed in the Order.

The GST Department has passed an order under Section 73 of the State Goods & Service Tax Act,2017 in the state of Uttar Pradesh, for the Financial Year 2018-19, disallowing Input Tax Credit of INR 3.678 Million on account of difference between GSTR2A Vs. GSTR3B and INR 0.092 Million on account of ineligible input tax credit along with the applicable interest and penalty of INR 0.377 Million.