Action(s) initiated or orders passed

9th November, 2026 National Stock Exchange of India Limited BSE Limited The Listing Department Corporate Relationship Department, “Exchange Plaza”, 5th Floor, 2nd Floor, New Trading Ring, Plot No. C/1, G Block, Bandra-Kurla Complex P.J. Towers, Dalal Street, Bandra (East), Mumbai – 400 051. Mumbai – 400 001. NSE Symbol: SULA BSE Scrip Code: 543711 ISIN: INE142Q01026 ISIN: INE142Q01026 Dear Sir / Madam, Sub: Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations, 2015”) Pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that the Company has received an Order-in- Original dated 30th October, 2026, as received by the Company on 8th November, 2026 under the provisions of Section 73 of the Central Goods and Services Tax Act, 2017 (‘CGST Act, 2017’) and Section 73 of the Maharashtra Goods and Services Tax Act, 2017 (‘MGST Act, 2017’) confirming differential tax payable under the provisions of CGST Act, 2017 and MGST Act, 2017 alongwith applicable interest and penalty. The demand for differential tax alongwith applicable penalty and interest has been confirmed under the Order-in-Original. However, the Company is in the process of pursuing appropriate appellate remedies against the said Order-in-original, in accordance with applicable law. In terms of SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January, 2026, as amended, read with Regulation 30 of SEBI LODR Regulations, SEBI Circular No. SEBI/HO/CFD/CFD- PoD-2/P/CIR/2025/25 dated 25th February, 2025 and Industry Standards note on Regulation 30 of LODR Regulations, the information required is given in the ‘Form A’ annexed herewith as ‘Annexure A’. The disclosures as required in the SEBI Master Circular dated 30th January, 2026, as amended, is annexed herewith as ‘Annexure B’. I, the undersigned state and declare that the information and details provided in ‘Form A’ (Annexure A), is in compliance with Regulation 30(13) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is true, correct and complete to the best of my knowledge and belief. You are requested to take the above information on your record. Thanking you, For Sula Vineyards Limited Gayathri Iyer Company Secretary and Compliance Officer Membership No: A38069 Annexure A Disclosure by Sula Vineyards Limited regarding receipt of communication from regulatory, statutory, enforcement or judicial authority under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 [Regulation 30(13) – Disclosure of communication from regulatory, statutory, enforcement or judicial authority] Sr No. Particulars Remarks 1. Name of the Listed Company Sula Vineyards Limited 2. Type of Communication received Order-in-Original dated 30th October, 2026, as issued under the provisions of Section 73 of the Central Goods and Services Tax Act, 2017 (‘CGST Act, 2017’) and Section 73 of the Maharashtra Goods and Services Tax Act, 2017 (‘MGST Act, 2017’) 3. Date of receipt of Communication The Order-in-Original dated 30th October, 2026, issued under the provisions of Section 73 of CGST Act, 2017 and Section 73 of MGST Act, 2017, which was received by the Company at the Company’s Nashik location on 8th November, 2026. 4. Authority from whom Communication received Assistant Commissioner CGST & Central Excise, Nashik-I Division, Nashik 5. Brief summary of the material contents of the Alleged violations under the Order-In- communication received, including reason for Original dated 30th October 2026: receipt of the communication 1. During FY 2022–23, the Company discharged GST at the rate of 5% on restaurant services provided under ‘RASA’ and ‘Tasting Room’, situated within the Sula Vineyard estate at Nashik. However, the authority has alleged that the said services were supplied at specified premises and were accordingly liable to GST at the rate of 18% (9% CGST and 9% MGST). The authority has determined a differential GST liability on the said restaurant services at the rate of 13% (i.e. the difference between the 5% GST paid by the Company and alleged applicable rate of 18%). Accordingly, the Company has been alleged to have short-paid tax at the differential rate of 13% which aggregates Sr No. Particulars Remarks to Rs. 1,54,34,022/- (CGST: Rs. 77,17,011/- and MGST: Rs. 77,17,011/- 2. A Penalty of Rs. 7,71,701/- under Section 73(9) of the CGST Act, 2017 and Rs. 7,71,701/- under Section 73(9) of the MGST Act, 2017, aggregating to Rs. 15,43,402/-. 3. The Order-in-Original also directs recovery of applicable interest under Section 50(1) of the CGST Act, 2017 and the corresponding provision of the MGST Act, 2017. The interest amount has not been quantified in the Order-in- Original. In view of the above, the authority has directed the Company to pay the differential tax liability, along with the applicable penalty and interest, as imposed under the said order. 6. Period for which communication would FY 2022-23 be applicable, if stated 7. Expected financial implication on the listed Differential tax: Rs. 1,54,34,022/- company, if any Penalty: Rs. 15,43,402/- The aforesaid is excluding applicable interest payable under Section 50 of the CGST Act, 2017 and the corresponding provision of the MGST Act, 2017. The Company does not agree with the findings/levy in the Order-in-Original and would be filing an appeal before the appellate authority against this order in original and expects a favorable outcome at the higher forum. 8. Details of any aberrations / non compliances As mentioned in point no. 5 identified by the authority in the communication 9. Details of any Penalty or restriction or sanction Amount of Penalty: Rs. 15,43,402 imposed pursuant to the communication. 10. Action(s) taken by listed company with respect to The Company will file an appeal before the the communication appellate authority against this order in original, in accordance with applicable law and expects a favorable outcome at the higher forum. 11. Any other relevant information Nil Annexure B Sr. Particulars Details 1. Name of the authority Dr. Anjum A Tadvi Assistant Commissioner CGST & Central Excise, Nashik 2. Nature and details of the Order-in-Original dated 30th October, 2026, passed under Section 73 action(s) taken, initiated or of the Central Goods and Services Tax Act, 2017 (‘CGST Act, order(s) passed 2017’) and the corresponding provisions of the Maharashtra Goods and Services Tax Act, 2017 (‘MGST Act, 2017’), confirming differential tax of Rs. 1,54,34,022/-, applicable interest and penalty of Rs. 15,43,402/-. 3. Date of receipt of direction Date of receipt of order in original - Order-in-Original dated 30th or order, including any ad- October, 2026, as received by the Company on 8th November, 2026 interim or interim orders, or any other communication from the authority 4. Details of the violation(s) / Alleged violations under the Order-In-Original dated 30th October contravention(s) 2026: committed or alleged to be committed 1. During FY 2022–23, the Company discharged GST at the rate of 5% on restaurant services provided under ‘RASA’ and ‘Tasting Room’, situated within the Sula Vineyard estate at Nashik. However, the authority has alleged that the said services were supplied at specified premises and were accordingly liable to GST at the rate of 18% (9% CGST and 9% MGST). The authority has determined a differential GST liability on the said restaurant services at the rate of 13% (i.e. the difference between the 5% GST paid by the Company and alleged applicable rate of 18%). Accordingly, the Company has been alleged to have short- paid tax at the differential rate of 13% which aggregates to Rs. 1,54,34,022/- (CGST: Rs. 77,17,011/- and MGST: Rs. 77,17,011/-). 2. A Penalty of Rs. 7,71,701/- under Sect [Showing first 8,000 characters — download PDF for full document]