Dynamic Cables Limited submit details of the order issued by the Office of the Assistant Commissioner, Central Goods & Service Tax Audit Circle, Jaipur-A in favour of the company, in accordance with the Show Cause Notice issued to company in respect of the wrongly availed excess ITC amounting to INR 2,041,713/- (IGST) and intimation dated October 03, 2023 in this regard. Name of the authority: Office of The Assistant Commissioner, Central Goods & Service Tax Audit Circle, Jaipur-A. Nature and details of the action(s) taken, initiated or order(s) passed: In continuation of the Show Cause Notice received by the company on October 3, 2023 from the GST Department stating that the company has wrongly availed excess ITC amount of INR 2,041,713 (IGST) during the GST Audit for the financial year 2018-2019. On review of submissions, the department has issued a favorable Order wherein the demand under section 73 of CGST Act, 2017 for amount of INR 2,041,713 (IGST) along with interest and penalty under the applicable provisions of IGST & SGST Act are not sustainable.

Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority: April 30, 2024. Details of the violation(s)/contravention(s) committed or alleged to be committed: The company has received a favorable order from GST Department dropping the demand of INR 2,041,713/-(IGST) and interest and penalty as mentioned in earlier Show Cause Notice (SCN) received by the company on October 3, 2023 for the financial year 2018-2019 pertaining to wrongly availed excess ITC. Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible: The order of the GST Department is in favour of the Company.