Carraro India Ltd

- Received closure report on GST notice dated Feb 2022 - Notice involved ₹196.6 million input tax credit discrepancy - Closure in favor of the company, ending proceedings - Issue related to GST filings Apr-Dec 2021

🔍 Overview of the GST Notice

• The company was scrutinized via a notice dated 21st February 2022 from Central GST authorities.
• The notice alleged a ₹196.6 million discrepancy in input tax credit claimed between GST returns for April to December 2021.

📑 Understanding Input Tax Credit Discrepancy

• Input tax credit helps reduce tax payable by adjusting tax paid on purchases.
• Discrepancies in different GST filings can suggest incorrect tax credit claims.

🗓 Timeline and Resolution

• Company provided satisfactory responses to the GST office's concerns.
• On 13th October 2025, a closure report was issued concluding proceedings in favor of the company.

📊 Quantitative Detail

• The focal amount was ₹196.6 million related to the input tax credit difference.

💡 What This Means for Investors

• Closure indicates resolution of a tax compliance issue.
• Removes uncertainty regarding this past GST matter disclosed earlier.
• No penalties or liabilities were noted in the closure.

📌 Important to Know

• The issue pertains to 2021, with resolution in 2025 through closure report.
• This officially ends the GST investigation on this matter.

🔎 Neutral Perspective

• Clarifies regulatory compliance without direct financial impact indicated.
• Provides transparency to investors on resolution status.