Announced Fri, 24 Apr · 16:38 IST
GST demand notice worth Rs 4.26 cr for IPO-related tax credit disallowance
Regulatory & Legal View source PDF
AETHER · price
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Price reaction · full curve 14 horizons · vs prior close
+5.0%1-day move
₹1116.00
prior close
₹1123.50
base price
After-mkt
timing
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AI summary
Aether Industries received a show cause notice from the CGST & Central Excise Commissionerate, Surat demanding Rs 4,26,16,311 (~Rs 4.26 crore) plus interest. The tax department is disallowing input tax credit claimed on IPO-related expenses for FY 2020-21 and FY 2021-22. The company says there is no material impact on operations and will respond to the authority.
Likely market impact
Potential liability of Rs 4.26 cr plus interest; company says no material impact on operations but outcome is uncertain.