Akzo Nobel India Limited informed that further to the Notice (dated 31st January 2024) from the Punjab GST Department, an order dated 19 April 2024 has been received on 19 April 2024. The Company had received a Show Cause Notice (SCN) (dated January 31, 2024) from the Punjab GST Department pertaining to the issuance of multiple e-way bills for the same invoice for the Fiscal Year 2018-19, amounting to INR 411,674 (Tax - INR 200,160, interest - INR 192,285, and penalty - INR 19,229). To that, the Company submitted its response within the given time limit along with all the necessary supporting documents.

Basis the aforesaid submission, the State Tax Officer from the Punjab Commercial Department reviewed reply and issued a Nil Demand Order (dated April 19, 2024).