AYM Syntex Receives GST Show Cause Notice for ₹2.31 Crore
AYM Syntex received a GST Show Cause Notice for FY 2022-23 proposing recovery of ₹1.16 crore tax, ₹1 crore interest, and ₹14.94 lakh penalty, totaling ₹2.31 crore. The company is evaluating the notice and will file a reply. No immediate financial impact is anticipated.
The notice involves a significant sum of over ₹2.31 crore, which could impact the company if the claims are upheld. However, the company's intention to contest and the absence of immediate financial impact mitigate the impact to medium.
The company has received a Show Cause Notice with potential financial implications, but it is currently evaluating the situation and plans to contest it, with no immediate impact stated. This makes the sentiment neutral.
AYM Syntex Limited has disclosed the receipt of a Show Cause Notice (SCN) from the Office of the Deputy Commissioner of State Tax, Department of Goods and Services Tax, Government of Maharashtra. The notice, issued under Section 73(1) of the CGST/MGST Act, 2017, pertains to the Financial Year 2022-23 following GST audit proceedings.
The SCN proposes a recovery of tax amounting to ₹1,16,66,378/-, interest of ₹1,00,25,137/-, and a penalty of ₹14,94,370/-, totaling ₹2,31,85,885/-. These proposed amounts are related to identified GST audit objections, including delayed payment interest, disallowance of credit notes, Reverse Charge Mechanism (RCM) on the import of services, ineligible Input Tax Credit (ITC), ITC reversal for payments made after 180 days, RCM on renting of motor vehicles and travelling expenses, ITC disallowance on insurance claims, and disallowance of ISD credit for non-production of relevant documents.
The company stated that there is no immediate financial impact at this stage. AYM Syntex is currently evaluating the SCN and, based on advice from its tax advisors, will file a detailed reply with the adjudicating authority within the prescribed timelines, pursuing all available legal remedies. The SCN was uploaded by the GST Authority on the GST portal on September 30, 2026. The company has not yet had any penalty, restriction, or sanction imposed.
What to do with a filing like this
AYM Syntex Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by AYM Syntex Limited. Read the original for the full detail.