Updater Services Limited announced with reference to intimation letter dated 3rd January 2024, regarding the order received from Deputy commissioner (CT) ST ­ III, Large Tax Payers Unit, Nandanam, to pay an amount of INR 38,73,36,020/- under section 73 of the Central Goods and Service Tax, 2017 read with Section 73 Tamilnadu Goods and Services Tax Act, 2017, Updater Services Limited, had filed the rectification petition for the aforesaid order. After due consideration, the authority through their rectification order dated April 16, 2024 vide reference no: ZD330424125254T had reduced the amount to INR 4,69,14,393/- (incl. penalty) against original demand of INR 38,73,36,020/- (excl.

penalty). The rectification order had received by the Company on 16th April 2024. The Company has already paid the GST amount and it is expected that, the Company will get the order in its favour during appeal and the financial impact will be nil.