AYM Syntex Receives Order for ₹10.27 Lakh Interest and ₹48.07 Lakh Penalty
AYM Syntex Limited received an order from CGST & Central Excise, Daman for ₹10.27 lakh interest and ₹48.07 lakh penalty on wrongly availed ITC for FY 2020-21. The company is evaluating further action, including an appeal, and does not foresee a material financial impact.
While the company states no material impact, the penalty and interest demand represent a financial outflow and potential legal proceedings, warranting a medium impact assessment.
The company has been levied a significant penalty and interest by the tax authorities, which is a negative development.
AYM Syntex Limited has received an Order-In-Original (No.: DMN/EXCUS/PKP-AC/VIII/01/2026-27) dated April 21, 2026, from the Assistant Commissioner, CGST & Central Excise, Division-VIII, Daman Commissionerate. The order demands the recovery of interest at an applicable rate on wrongly availed and utilized Input Tax Credit (ITC) amounting to ₹10,27,225/-, along with a penalty of ₹48,07,770/-.
The communication pertains to the financial year 2020-21 and relates to the input tax credit claimed by the company as per the provisions of the GST law. The company is currently evaluating its further course of action, which may include filing an appeal against this order.
AYM Syntex Limited has stated that it does not foresee any material impact on its financial, operational, or other activities as a result of this order.
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.