LTIMindtree Limited — Important, 30-01-2025: General Updates

LTIMindtree has received an order from the Department of Goods and Service Tax in Bengaluru, demanding a total of INR 50 million (including a penalty of INR 24 million) concerning input tax credit denials for the period from July 2017 to March 2022. The company considers the GST demand to be unjustified and plans to appeal the order in consultation with its advisors. Management believes that this issue is unlikely to have a material impact on LTIMindtree’s financials or operations, signaling a positive outlook as they navigate the situation. Investors should monitor this development closely.