Voltas Limited has received two Orders from the Office of the State Tax Officer, Cuttack, Odisha, under Section 73 of the Central Goods and Services Tax Act, 2017 and Odisha Goods and Services Tax Act, 2017, as under: Order dated 9th April, 2024 disallowing Input Tax Credit (ITC) claimed under Input Service Distributor (ISD) invoices and raised a demand of tax of INR 1.695 million, interest of INR 1.797 million and penalty of INR 170,000. Name of the Authority: State Tax Officer, Cuttack - I City Circle, Cuttack, Odisha. By an Order dated 9th April, 2024 passed under Section 73 of the Central Goods and Services Tax Act, 2017 and Odisha Goods and Services Tax Act, 2017 for financial year 2018-19, a demand has been raised towards tax of INR 1,695,181/-, interest of INR 1,797,355/- and penalty of INR 169,518/- stating excess input tax credit (ITC) claimed under Input Service Distributor (ISD) invoices not reflected in Form GSTR-2A.

The Company is in the process of filing an appeal against the said Order. There is no material impact on financials, operations or other activities of the Company. (ii) Order dated 9th April, 2024 raising a demand of tax of INR 220,000 on issues relating to E-way bills, interest of INR 209,000 and penalty of INR 30,000.

Name of the Authority: State Tax Officer, Cuttack - I City Circle, Cuttack, Odisha. By an Order dated 9th April, 2024 passed under Section 73 of the Central Goods and Services Tax Act, 2017 and Odisha Goods and Services Tax Act, 2017 for financial year 2018-19, a demand has been raised towards tax of INR 219,512/-, interest of INR 209,251/- and penalty of INR 30,000/- for short payment of tax on multiple issues of E-way bills. The Company is in the process of filing an appeal against the said Order.

There is no material impact on financials, operations or other activities of the Company.