Voltas Limited has received an Order from the Office of the Deputy Commissioner of State Tax, Mumbai, Maharashtra demanding tax of INR 14.1 million, interest of INR 15.3 million and penalty of INR 1.4 million under Section 73 of the Central Goods and Services Tax Act, 2017 and Maharashtra Goods and Services Tax Act, 2017 for mismatch in input tax credit availed and reflected in Form GSTR-2A and GSTR-3B for the financial year 2018-19. The Company is in the process of filing an appeal against the said Order. There is no material impact on the financials, operations or other activities of the Company due to this penalty.

Name of the Authority is Deputy Commissioner of State Tax, Mumbai - LTU - 521: Mumbai - LTU-2: Mumbai North West, Maharashtra. Order received on 15th April 2024. Penalty of INR 1,405,132/- has been imposed for mismatch in input tax credit availed.