Legal2 Oct 2026, 10:12 am
Aether Industries: CGST Drops ₹4.26 Cr Tax Notice
AI Summary
Aether Industries Ltd has announced that the proceedings initiated by the Additional Commissioner (AE), CGST & Central Excise Commissionerate, Surat, via a Demand and Show Cause Notice worth ₹4,26,16,311/- (Rupees Four Crores Twenty-six Lakhs Sixteen Thousand Three Hundred Eleven only) plus interest, have been dropped. The notice pertained to disallowing tax credit availed on various expenses made during FY 2020-21 and FY 2021-22, related to the Company's Initial Public Offer (IPO). The Authority, through an order issued on October 1, 2026, considered the availed tax-credit fair and legitimate, confirming no financial implications for Aether Industries.
Key Highlights
- CGST authority dropped a ₹4.26 Cr tax demand notice against Aether Industries.
- The notice related to tax credit on expenses for the company's IPO.
- The tax credit was deemed fair and legitimate by the authority.
- No financial implications for the company as proceedings were dropped.
Price Impact
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