According to the Company’s exchange filing, Ethos Limited has received a demand of ₹ 3.21 crore under Section 74 of the CGST Act, 2017.
The Office of the Principal Commissioner, Central Goods & Services Tax, Chandigarh imposed the penalty for alleged non-payment of GST on non-taxable transactions under GST law and differences in Input Tax Credit (ITC) for the financial years 2017-18 to 2019-20.
The Company is likely to challenge the order before an appropriate authority.”The company firmly believes that the demand is factually and legally untenable,” the company said. “It has consistently complied with GST regulations and will be filing an appeal before the appropriate authority to contest the order,” it added.
The disclosure was made under regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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