Dynamic Cables Limited announced the details of Orders dated October 05, 2023 issued to the Company by the Office of the Superintendent, Central Goods and Services Tax, Range-II, Division-A, Jaipur. The Orders dated October 05, 2023 has been received by the Company on October 09, 2023. Name of the authority for order 1: Office of the Superintendent, CGST Range-l I, Division A, Jaipur.

Nature and details of the action(s) taken, initiated or order(s) passed: The Company has received an order from Office of the Superintendent, CGST Range-11, Division A, Jaipur imposing a demand of IGST amounting INR 328,030 under Section 74(1) of the CGST Act, 2017 for the period 2018-19 along with the interest under Section 50(1) of the CGST Act,2017 and penalty amounting to INR 328,030 under Section 122(2)(b) of CGST Act, 2017 read with Section 74 of the CGST Act,2017 and the corresponding provisions of IGST Act, 2017. Date: October 09, 2023. Details of the violation(s)/contravention(s) committed or alleged to be committed: The Order has been passed on the contention that the Company had not paid GST under RCM on commission paid in Foreign currency to their agent located abroad for receiving services during Fiscal Year 2018-19.

Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible: Based on the Company's assessment and the advice of the tax advisors, the Company is in the process of filing the appeals against the said orders and is hopeful of a favorable outcome. There is no material impact on financials, operations or other activities of the Company due to the said orders. Name of the authority for order 2: Office of the Superintendent, CGST Range-II, Division A, Jaipur.

Nature and details of the action(s) taken, initiated or order(s) passed: The Company has received an order from Office of the Superintendent, CGST Range-II, Division A, Jaipur that Demand of GST of INR 80,550/- for the F.Y. 2018-19 and penalty under Section 122 of CGST Act, 2017 is not sustainable. Date: October 09, 2023. Details of the violation(s)/contravention(s) committed or alleged to be committed: The Order has been passed in favor of the company.

The department was of the contention that the company has not paid GST amounting to INR 80,550 on the personal bank guarantee given by the directors for credit limit sanctioned to the company during the Fiscal Year 2018-19. Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible: There is no impact on financial, operation or other activities of the Company due to this Order.