The Hi-Tech Gears Limited received an order from Rajasthan Goods and Services Act authorities with a demand aggregating to INR 23,01,748 (Rupees Twenty Three Lakh One Thousand Seven Hundred Forty Eight Only) including interest and penalty. Based on our assessment, the Company is in the process of preferring an appeal against the said Order before the appropriate authorities. Name of the Authority: Office of Joint Commissioner Circle A, Bhiwadi, AC/CTO Ward: Circle-A, Bhiwadi, Rajasthan.

The aforesaid order has been passed under Section 73 of the Rajasthan Goods and Services Act, 2017 read with relevant sections of the CGST Act, 2017 & Section 20 of the IGST Act, 2017 and other relevant rules made thereunder. Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority: May 20, 2024. Short payment of GST by way of mis-classification of HSN heading for goods supplied.

Impact of INR 23,01,748/- (including Tax amount, interest and penalty). However, the Company is in the process of preferring an appeal against the said Order before the appropriate authorities.