Dreamfolks Services Ltd. has received an Order passed, u/s 73(9) of the CGST Act, 2017/WBGST Act, 2017, by Deputy Commissioner of State Tax/B.I (South Bengal) on April 8, 2024 imposing a penalty as follows: Tax: INR 22,823,497.88/-, Penalty@ 10%: INR 2,282,349.80, and Total: INR 25,105,847.68. Order refers to matters relating to general industry matters and the Company will be filing appropriate response to the said Order within the prescribed timelines. Name of the Authority: Deputy Commissioner of State Tax [B.l (South Bengal)]. Nature and details of the action(s) taken, or orders (s) passed: Order to pay penalty, as detailed in the letter above, under
Section 73(9) of the CGST Act, 2017 /WBGST Act, 2017. Date of receipt of direction or order including and ad-interim or interim orders or any other communication from the authority: April 8, 2024. Details of the violation(s) /contravention(s) committed or alleged to be committed: The alleged penalty pertains to violation of the provisions of place of supply in section 12(3) of IGST Act, 2017 during the financial year 2018-19. Impact on financial, operation or other activities of the listed entity quantifiable in monetary terms to the extent possible: There will be no such impact on the financial operation or other activities of the Company. Also, the order refers to matters relating to general industry issue issues and the Company will be filing appropriate response to the said Order within the prescribed timelines.