Britannia Industries Limited has received an order from the Office of the Assistant Commissioner for GST & Excise, Bhubaneswar-II Division, Orissa. Nature and details of the action(s) taken, initiated or order(s) passed: Intimation of amount ascertained as payable under Section 73 of the Central Goods and Service Tax Act, 2017 (`CGST'). The order was received by the Company through post on, 20th April, 2024 at 5:00 P.M IST.

The intimation is being submitted today, being the first working day after receipt of the order. Order under Section 73 of the CGST Act, 2017 has been passed disallowing certain Input Tax Credits. The tax and penalty quantified in the order amounts to INR 7,415,980/- and INR 741,598/- respectively, totaling to a demand of INR 8,157,578/-.

Interest has not been quantified explicitly. There is no material impact on the financials or operations or other activities of the Company on account of this order. The order is appealable, the company shall take necessary actions including exercising the legal remedies available under the GST law.