Sudarshan Chemical Industries Limited announced regarding the Order passed by the Deputy Commissioner of State Tax (Department of Goods and Service Tax), Pune, dated 22 April, 2024. Name of the Authority: PUN-LTU-518, 4th Floor, GST Bhavan, Airport Road, Yerwada, Pune ­ 411 006, Maharashtra, India (Department of Goods and Service Tax). Nature and details of the action(s) taken, initiated or order(s) passed.: GST DRC-07 dated 22 April, 2024, for Fiscal Year 2018-19 for an aggregate amount of INR 159,730,900 includes amount of Tax INR 73,861,456 amount of interest INR 78,447,680 and amount of penalty INR 7,421,765).

Details of the violation(s) /contravention(s) committed or alleged to be committed.: After completion of GST Audit for Fiscal Year 2018-19, the Office of the Deputy Commissioner of State Tax, Pune, issued notice in DRC 01 against which the Company submitted a response. After verification of the response submitted by the Company, the Authority issued DRC 07 consisting of the tax demand as mentioned in Point No. 2 above.

Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible.: The Company believes that it has a good case on all the points raised by the Office of the Deputy Commissioner of State Tax, Pune. The Order is appealable and the Company is in the process of filing the appeal before the appropriate authority and hence there is no impact on the financial, operation or other activities of the Company due to issuance of the aforesaid Order.