Dynamic Cables Limited has received an Order from Office of the Commissioner (Appeals), Central Excise,Customs and Central Goods & Service Tax, NCRB, Statue Circle,Jaipur -302005 (Raj.) raising a Demand of INR 68,869 along with interest and penalty under the provisions of Section 7 4(7) of the CGST Act,2017 read with Section 20 of IGST Act,2017 in relation to the GST on import of Services under RCM. Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority: June 17, 2024; Details of the violation(s)/contravention(s) committed or alleged to be committed: The Company has received a demand Order against the appeal filed under Section 107 of CGST Act 201 7 in relation to the GST on import of Services under RCM from the Office of the Commissioner(Appeals), Central Excise,Customs and Central Goods & Service Tax, NCRB Statue Circle,Jaipur -302005 (Raj.). Based on the Company's assessment and the advice of the tax advisors, the Company is in the process of depositing the demand amount along with interest and penalty.

There is no material impact on financials, operations or other activities of the Company due to the above order.