Uflex Limited announced that a penalty of INR 0.354 lacs has been imposed on the Company by State Taxes Officer, Circle G, Jammu. Name of the authority -State Taxes Officer, Circle G, Jammu. Nature and details of the action(s) taken, initiated or order(s) passed.

Disallowance of input tax credit. Order passed u/s 73 of J&K SGST Act 2017 read with the relevant section of CGST Act 2017. Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority.

1st May, 2024. Details of the violation(s)/contravention(s) committed or alleged to be committed: Mismatch in ITC claimed in GSTR-3B and that accrued in GSTR-2A.) Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible: INR 7.723 million (including tax, interest and penalty). There is no major impact on the financial operation or other activities of the Company.

The Company will be filing an appeal by depositing 10% of the tax amount, i.e. INR 0.354 million (as pre- deposit) with the appropriate authorities within the prescribed time limits.