Reliance Industries Limited has received an order dated July 11, 2024 ("Order") from the Deputy Commissioner, State Tax, Hyderabad levying on the Company a penalty of INR 20,000 under Section 122 of the Central Goods and Services Tax Act, 2017 and the Telangana Goods and Services Tax Act, 2017. The Order has been passed alleging incorrect availment of input tax credit by the Company. The Company intends to file an appeal against the Order.

The financial impact of the Order is to the extent of the penalty levied. There is no impact on operations or other activities of the Company due to the Order.