Symphony Limited received notice from GST department, Kadi Division, Gujarat. Name of the authority: GST Authority, Kadi Division, Gujarat; Nature and details of the action(s) taken, initiated or order(s) passed: GST department, Kadi Division, Gujarat has issued an order dated June 28, 2024. Period: Financial year 2018-19; Date of receipt of direction or communication from the authority: July 03, 2024; Details of the violation(s)/contravention(s) committed or alleged to be committed: The authority has dropped the GST demand of INR 3,711,022 based on written submission and personal hearing in response to the show cause notice issued by the Authority.

Further, the authority has confirmed the following demand: GST amount: INR 561,198; Penalty amount: INR 526,665; Interest amount: INR 561,198; Total: INR 1,649,061. Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible: Except the amount mentioned in column E, there is no material impact of the same on financial, operations or other activities of the Company. The Company has already paid GST amount of INR 561,198 along with penalty amount of INR 84,180 and the same will be appropriated against the demand.

For the remaining amount, the Company will take appropriate steps, including filing of an appeal.