JSW Dulux Limited has informed stock exchanges about receiving a revised GST order from the Karnataka GST Department, significantly reducing the earlier demand but still carrying substantial financial implications for the company. The disclosure was made on 22nd April 2026 under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

GST Order Details

The Assistant Commissioner of Commercial Taxes, Local GST Office, Karnataka GST Department issued an order dated 31st March 2026, which the company received on 21st April 2026 at 4:30 pm. The order pertains to disallowance of input tax credit under section 74 of CGST/SGST Act, 2017 for the period from April 2019 to March 2020.

Background of the Case

The litigation process began when JSW Dulux Limited received a show cause notice from the Karnataka GST Department on 3rd June 2024. The original notice carried a significantly higher demand of Rs 101,09,35,870, which included:

• Tax: Rs 36,87,92,445
• Interest: Rs 27,33,50,980
• Penalty: Rs 36,87,92,445

The company had responded to the show cause notice along with supporting documents within the prescribed time limit, leading to the current revised order with a substantially reduced demand.

Company's Response Strategy

JSW Dulux Limited has indicated that the order remains open for further submissions to relevant authorities. The company is currently in the process of preparing and submitting its response within the timeframe specified by the GST department. This suggests the matter is not yet concluded and the company has opportunities to contest or negotiate the demand.

Regulatory Compliance

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, in compliance with SEBI circular SEBI/HO/CFD/CFDPoD-1/P/CIR/2023/123 dated 13th July 2023. This represents an update to the earlier disclosure made on 5th June 2024 regarding the pending litigation.

The matter involves JSW Dulux Limited, formerly known as Akzo Nobel India Limited, and the company continues to engage with the tax authorities to resolve the dispute through appropriate legal channels.

Annexure-1: Status Update

JSW Dulux Limited (formerly Akzo Nobel India Limited) has announced the opening of a special window for transfer and dematerialisation of physical shares, providing shareholders with a one-year opportunity to complete pending share transfers.

Regulatory Compliance and Public Notice

The company has fulfilled its regulatory obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 by publishing newspaper advertisements on April 10, 2026. The advertisements appeared in Business Standard (all India editions) in English and Aaj Kaal in Bengali, ensuring wide reach across different linguistic communities.

Rajiv L. Jha, General Counsel, Company Secretary & Compliance Officer, submitted the compliance documentation to both BSE Limited and National Stock Exchange of India Ltd on April 10, 2026.

Special Window Details

The special facility operates from February 5, 2026 to February 4, 2027, following SEBI Circular No. HO/38/13/11(2)2026-MIRSD-POD/3750/2026 dated January 30, 2026. This initiative addresses long-standing issues faced by shareholders holding physical certificates.

Eligibility Criteria

The special window is available to specific categories of investors who purchased physical shares of JSW Dulux Limited (formerly known as Akzo Nobel India Limited, ICI India Limited, IEL Limited and Indian Explosives Limited) prior to April 1, 2019.

Eligible shareholders include those who:

• Had not lodged the shares for transfer
• Had lodged the shares for transfer but faced rejection, return, or non-processing due to documentation deficiencies

Required Documentation

Shareholders seeking to utilize this facility must submit complete documentation including:

• Original share certificates
• Transfer deeds executed before April 1, 2019
• Other supporting documents as required

The company emphasizes that only requests accompanied by original share certificates along with properly executed transfer deeds and supporting documents will be considered under this special window.

Contact Information for Assistance

Shareholders can reach out through multiple channels for assistance:

Company's Registrar and Transfer Agent: M/s C B Management Services (P) Limited Unit: JSW Dulux Limited Rasoi Court, 5th Floor 20, Sir R N Mukherjee Road Kolkata - 700 001 Tel: 033-69066200 Email: ria@cbmsl.com

Direct Company Contact: Email: investor@akzonobel.com

For comprehensive information about the special window, investors can refer to the SEBI Circular available at the provided link in the company's official notice.

This initiative represents JSW Dulux Limited's commitment to resolving historical share transfer issues and facilitating the transition of physical shares to dematerialised form, aligning with modern trading practices and regulatory requirements.