Gabriel India Limited announced receipt of an Assessment Order from the office of the Commercial Tax Officer (GST Department) under Jurisdiction of Salem, Tamil Nadu (`Authority'). Nature and details of the action(s) taken, initiated or order(s) passed: Issuance of Assessment Order under Goods and Services Tax Act demanding payment of tax, interest and penalty aggregating to INR 2.99 million. Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority: Order dated July 11, 2024.

Details of the violation(s)/contravention(s) committed or alleged to be committed: GST Department has now assessed liability only on account of availing ineligible input tax credit. Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible: The Company does not accept the assessment and is in the process of taking legal advice for appropriate action at the designated forum. There is no foreseeable impact on the financial, operation or other activities of the Company due to this assessment order.