AYM Syntex gets GST show cause notice of Rs 2.32 crores for FY2022-23
AYMSYNTEX · price
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AYM Syntex received a GST Show Cause Notice for FY 2022-23 from the Maharashtra State Tax department. Total proposed demand is Rs. 2.32 crores, including tax of Rs. 1.17 crores, interest of Rs. 1.00 crores, and penalty of Rs. 14.94 lakhs. Issues raised include ineligible ITC, ITC reversal delays beyond 180 days, RCM on imports and vehicle rentals, disallowance of credit notes and ISD credit. Company says no immediate financial impact and will file a detailed reply within timelines.
Moderate tax demand of about Rs 2.32 crores. No immediate hit; company plans to contest. Watch for outcome of adjudication.