The Shipping Corporation of India Limited provides updates on notice by Deputy Commissioner of State Tax, (MUMBAI-LTU-520), LTU-2, Mumbai [Department Of Goods and Service Tax, Government of Maharashtra ]; Brief Details of Dispute/Litigation: In continuation of previous disclosure dated 1 February 2024, the Company has now received final order dated 30 April 2024 confirming demand of INR 761,989,910/(including tax component of INR 348,577,270 plus interest & penalty) under Section 73 of the GST Act. The said demand is on account of Mismatch of Input Tax Credit (ITC) with GSTR-2A. Date of receipt of order: 30 April, 2024.

Amount involved/claimed, if any & Expected financial implications, if any: The Company is in the process of filing an appeal before the Joint Commissioner of State Tax (Appeal) and expect a favourable outcome. The Company believes that the said demand is not maintainable and therefore, there will not be any material financial impact.