NSE/BSE Codes: BSE: 508933, NSE: AYMSYNTEX

Summary of Key Information:

Nature of Event / Disclosure:

Regulatory disclosure pursuant to SEBI Listing Obligations and Disclosure Requirements (LODR) Regulation 30 regarding receipt of a Show Cause Notice (SCN) from GST authorities.

Involved Parties / Authorities:

  • Issuing Authority: Deputy Commissioner of State Tax, THA-AUD-E 0004 (Thane Audit_504), Department of Goods and Services Tax, Government of Maharashtra, GST Bhavan, Vartak Nagar, Thane — 400606.
  • Recipient: AYM Syntex Limited

Date / Timeline of Event:

  • Date of SCN receipt: September 30, 2026
  • Date of intimation to exchanges: October 1, 2026
  • Financial year under scrutiny: 2022-23

Brief Description of Outcome / Dispute:

The Company received a Show Cause Notice under Section 73(1) of the CGST/MGST Act, 2017 following GST audit proceedings for FY 2022-23. The SCN proposes recovery of dues based on identified GST audit objections including:

  • Delayed payment interest
  • Disallowance of credit notes
  • Reverse Charge Mechanism (RCM) on 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 claim
  • Disallowance of ISD credit for non-production of relevant documents

Impact of Outcome:

Financial Impact:

The SCN proposes total financial implications of ₹2,31,85,885/- comprising:

  • Tax: ₹1,16,66,378/-
  • Interest: ₹1,00,25,137/-
  • Penalty: ₹14,94,370/-

The Company states there is "no immediate financial impact on the Company at this stage" as the matter is at the notice stage and subject to adjudication.

Operational / Business / Strategic Impact:

No material operational or business impact disclosed. The notice pertains to historical compliance matters from FY 2022-23.

Other Implications:

The disclosure is made to comply with SEBI listing regulations. No other implications regarding reputation, legal, regulatory, or market perception are stated.

Next Steps / Required Actions:

  • The Company is evaluating the SCN with advice from its tax advisors
  • Will file a detailed reply with the adjudicating authority within prescribed timelines
  • Will pursue all legal remedies available to it
  • The matter is subject to adjudication proceedings