AYM Syntex Limited has informed the Exchange about that the Company has received a demand order from GST Authorities.
AYMSYNTEX · price
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AYM Syntex Limited received an Order-In-Original from the Assistant Commissioner, CGST & Central Excise, Division-VIII, Daman Commissionerate dated April 21, 2026. The demand order seeks to recover interest on wrongly availed and utilized Input Tax Credit (ITC) amounting to Rs.10,27,225, along with a penalty of Rs.48,07,770. The issue pertains to ITC claimed by the company under GST law provisions during Financial Year 2020-21. The company has stated it does not foresee any material impact on its financial, operational or other activities. The company is currently evaluating further course of action, including filing an appeal against the order.
The GST demand involves a penalty of approximately Rs.48 lakh plus interest on Rs.10 lakh ITC. While the company claims no material impact, this represents a regulatory compliance risk and potential cash outflow if the appeal is not successful.