AYM Syntex Limited has informed the Exchange regarding 'Regulation 30-Intimation of receipt of an order from the Superintendent of CGST & Central Excise, Range-II, Division - VIII, Daman Commissionerate.'
AYMSYNTEX · price
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Awaiting price reaction for this filing.
AYM Syntex has received an order from the Superintendent of CGST & Central Excise (Range-II, Division-VIII, Daman Commissionerate) imposing a tax demand of ₹17,51,241 along with applicable interest and penalty. The demand pertains to Input Tax Credit (ITC) claimed by the company in relation to non-return filers. The company has stated it will be filing an appeal against this order. Management has clarified that there is no material impact on the company's financials, operations, or other activities from this order. The company is currently evaluating its further course of action.
The demand amount of about ₹17.5 lakhs is quite small and the company itself says there is no material financial or operational impact. Shareholders are unlikely to see any meaningful effect on the stock price, though the appeal outcome should be tracked.