Ather Energy Limited has informed the Exchange that the Company has received three orders dated June 13, 2025 from the Assistant Commissioner, Nungambakkam, Central-III, Chennai Central, Tamil Nadu, dropping the proceedings under section 74 of Central and Goods Services Tax, 2017 against the Show Cause Notices.
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Ather Energy has received three orders dated June 13, 2025 from the GST authority in Chennai dropping proceedings under Section 74 of the CGST Act, 2017 against the company. These proceedings related to show cause notices alleging discrepancies in inverted duty structure refunds for August 2021, April 2022 and April 2023, with a total disputed amount of about ₹229.3 million (₹22.93 crore). The SCNs were originally disclosed as material litigation in the company's April 2025 IPO prospectus. With the orders, all three proceedings stand dropped, and the company states there will be no financial or operational impact.
Positive for shareholders — Ather Energy is fully relieved of a potential tax liability of roughly ₹22.93 crore that had been hanging over the company since the IPO disclosures. The closure removes a known litigation overhang, though no refund or financial gain is being recognized as the demand itself is now treated as never having crystallized.