Cyber Media (India) Limited informed that the Show Cause Notice received from the Goods and Services Tax Department. Name of the Authority: GST Officer/Sales Tax Officer, Ward 96, Zone 9, Department of Trade and Taxes, GNCTD, Delhi. The Company is in receipt of Show Cause Notice dated May 14, 2024 under section 73 of the CGST/SGST Act, 2017 for the financial year 2019-20 as to why GST input tax credit of INR 3,482,236 should not be demanded and recovered alongwith interest of INR 2,898,747 and penalty of INR 348,223, aggregating a total amount of INR 6,729,206.

Show Cause Notice has been issued by the GST Authority alleging that the Company has not declared correct tax liability while filing the annual return in Form GSTR-09 for the financial year 2019-20. Based on the advice of GST Consultant, the Company will be filing appropriate response to the said Show Cause Notice within the prescribed timeline. There is no impact on financial, operation or other activities of the Company due to this Show Cause Notice.

Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority is May 23, 2024.