Ethos Limited loses GST appeal; demand of about 26.51 lakh upheld
ETHOSLTD · price
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Ethos Limited received an order from the GST Appellate Authority, Noida dismissing its appeal for FY 2018-19 and FY 2019-20. The order upheld a tax demand of 13.26 lakh and an equal penalty under Section 74 of the CGST Act, plus applicable interest. Total exposure is about 26.51 lakh, with 1.33 lakh already paid as pre-deposit. The issue relates to input tax credit whose invoices were not reflected in suppliers' GST returns. The company plans to file a further appeal and states there is no material impact on its operations.
Small exposure of about 26.51 lakh plus interest; company plans to appeal and says no material impact on operations or finances.