Munjal Auto Industries Limited announced that the Company has received an intimation from the GST Department, Vadodara for the tax period 2019-20. Intimation of GST liability under Section 74(5) of INR 1.237 million for the tax period 2019-20. GST Department, Vadodara has issued an intimation notice under Section 74(5) for INR 12.37 lakhs for the tax period 2019-20 including the amount of tax, interest, and penalty payable.

Since it is only an intimation notice at this stage, and the Company will take all necessary actions to present and defend its case before the relevant authorities and address the demand and penalties, if any, hence, at this point, there is no expected financial implications.