Fusion Micro Finance Limited announced the details of Show Cause Notices received by the Company from Goods and Service Tax (GST) Authority are enclosed herewith as Annexure A. Name of the Authority: Assistant Commissioner of State tax BHUBANESWAR-1, Odisha. Nature and details of the order: Show cause notice issued under section 73 of CGST Act or AGST Act, directed to make payment of INR 1,17,90,099 in total (INR 64,08,617 as tax amount, INR 47,40,620 as interest and INR 6,40,862 as penalty). Date of receipt: May 31, 2024.

Details of violation:The alleged show cause notice pertains to excess ISD input claimed in GSTR 3B under IGST head as compared to ITC available in GSTR 2A/GSTR 9 under respective heads during the period April 2019 to March 2020. Impact on financial operations:The Company has received a show cause notice under section 73 CGST Act and directed to make payment of INR 1,17,90,099. The Company believes that it has adequate legal grounds to reasonably substantiate its position in this matter and does not expect any material impact on financial, operation or other activities of the company due to the said Order.