Ethos Ltd Penalties Upheld at ₹2.15 Cr by CGST Appeals

Ethos Ltd has received an order from the Commissioner (Appeals-III), CGST & Central Excise, Mumbai, dismissing its appeals and upholding penalties totaling ₹2,15,78,391. These penalties were imposed under Section 122(1)(ii) of the Central Goods and Services Tax Act, 2017. The company is currently evaluating the order and exploring available legal remedies, including a further appeal. Ethos Ltd believes it has strong grounds to contest the matter and states that the order does not have a material impact on its operations. The company is reviewing the order with legal advisors.