Akzo Nobel India Limited informed that further to the Notice (dated 29th January 2024) from the Bihar GST Department, an order dated 26th April 2024 has been received by on 29th April 2024. The details of any change in the status and /or any development in relation to such proceedings: The Company received a Show Cause Notice (SCN) from the Bihar GST Department (dated 29th January 2024) during the GST Audit for the financial year 2018-2019 thereby disallowing the Input Tax Credit (ITC) under the CGST/SGST Act, 2017, and demanded INR 486,037/-, including interest and penalty. However, the company responded to the said Notice along with the supporting documents within the given time limit.

The Deputy Commissioner of State Tax, Bihar GST Department, reviewed reply and issued an Order dated 26th April 2024 (received by on 29th April 2024) by dropping the demand of INR 486,037/- (comprising Tax: INR 276,158/-; Interest: INR 182,264/-; and Penalty: INR 27,615/) and basis that the Final Demand is Nil.