Cyber Media (India) Limited informed that the Show Cause Notice received from the Goods and Services Tax Department. Name of the Authority: GST Officer/Sales Tax Officer, Ward 96, Zone 9, Department of Trade and Taxes, GNCTD, Delhi. The Company is in receipt of Show Cause Notice dated May 24, 2024 under section 73 of the CGST/SGST Act, 2017 ("Act") as to why interest of INR 946,850 should not be demanded under section 50(1) of the Act for delayed payment of GST for the financial year 2019-20.

Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority is May 27, 2024. Show Cause Notice has been issued by the GST Authority alleging that the return in GSTR-3B was filed after due date thereby tax was paid delayed, but interest on delayed payment of tax was not paid. Based on the advice of GST Consultant, the Company shall file appropriate response to the said Show Cause Notice within the prescribed timeline.

There is no impact on financial, operation or other activities of the Company due to this Show Cause Notice.