Indus Towers Limited announced Order passed by Deputy Commissioner (Rajasthan). Nature and details of the action(s) taken, initiated or order(s) passed: Order passed by Deputy Commissioner (Rajasthan) levying penalty of INR 5,419,966. Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority: April 30, 2024.

Details of the violation(s)/contravention(s) committed or alleged to be committed: The GST Authority has levied penalty alleging excess Input Tax Credit availed on the basis of reconciliation between liability discharged under reverse charge mechanism and ITC availed under reverse charge mechanism. Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible: The company will challenge the order as per the provisions of law and there is no material impact of the same on financials, operations or other activities of the Company.