Greenply Industries Limited informed that an Order dated 24th April, 2024 was passed by the Assistant Commissioner, Division -- VII, CGST and Central Excise, Mumbai East Commissionerate, Maharashtra. Nature and details of the action taken, initiated or order passed: An Order passed under relevant provision of the Central Goods and Services Tax Act, 2017 for the Fiscal Year 2018-19, inter alia, demanding additional tax towards excess ITC availed on;Ineligible ITC claim, Form GSTR 3B as compared to GSTR 2A. The total tax demand amounts to INR 2,248,553 and penalty of INR 224,855 has been imposed.

Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority: 27th April, 2024. Details of the violation/contravention committed or alleged to be committed: The adjudication authority has raised tax demand along with interest and penalty as stated above in (ii). The Company has discharged applicable taxes on the outward supplies made by the Company.

The Company has also fulfilled all the conditions prescribed under the aforesaid Acts w.r.t. availment of the ITC. The Company has a strong case based on merits and will be filing rectification and/or appeal against the said Order within the prescribed timelines. Impact on financial, operation, or other activities of the listed entity, quantifiable in monetary terms to the extent possible: There is no material impact on the financial, operation, or other activities of the Company.