PAYTM : FIRST GAMES GST DEMAND CUT TO RS 703.66 CR FROM RS 5,712 CR

• Additional Commissioner of CGST Noida reduced FGTPL's GST liability to ₹703.66 Cr from ₹5,712 Cr proposed in the show cause notice • Demand covers April 2018 to March 2023, with penalty equivalent to the tax liability plus applicable interest • No incremental financial impact on Paytm; FGTPL is treated as a joint venture and its revenues are not consolidated • Carrying value of Paytm's investment in FGTPL in consolidated financials as on March 31, 2026 is already nil • FGTPL discontinued real-money gaming operations under the Online Gaming Act, 2025; FY26 statements were prepared on liquidation basis • FGTPL is evaluating the appropriate course forward under relevant statutory provisions

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