Indoco Remedies Limited has received a notice from the Office of the Joint Commissioner, State Tax, Special Circle, Ranchi, dated 18th June 2024. The notice, issued under Rule 99(1) in Form GST ASMT - 10, pertains to GST liabilities for the period from 2020-2021, specifically highlighting a difference in Input Tax Credit claims as per returns. At this initial stage, no financial implications are expected, as the company plans to contest the notice and present its case before the authorities.

The potential demand stated is INR 0.282 million, contingent upon the resolution of the matter. Indoco Remedies Limited anticipates that this demand may not materialize into a liability against the company. The company commits to updating the stock exchanges on any significant developments concerning this issue in the future.