Aym Syntex Limited, a prominent player in the textile industry, has informed the stock exchanges, BSE Limited (BSE) and National Stock Exchange of India Limited (NSE), about the receipt of an order from the Commissioner (Appeals) of CGST, Surat. This update has been shared under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations), ensuring transparency in corporate disclosures.

Details of the CGST Order

The CGST Commissioner (Appeals), Surat issued an order related to a matter concerning IGST refund on export of goods. According to the order, Aym Syntex Limited is liable to pay a tax demand of INR 9,81,578 along with a penalty of INR 98,157. The order pertains to an appeal concerning a dispute over IGST refunds that arose in relation to the company’s export transactions.

Date and Receipt of the Order

The order was officially received by Aym Syntex Limited on March 27, 2025, as mentioned in the regulatory filing. The company has made it clear that there is no violation or contravention committed, and hence, no specific allegations or contraventions have been highlighted in the order.

Financial and Operational Impact

Aym Syntex Limited has assured that the order has no material impact on the financials, operations, or other activities of the company. The company has reviewed the situation thoroughly and indicated that they are in the process of evaluating further courses of action to address the order effectively.

Compliance with SEBI Listing Regulations

The disclosure has been made in compliance with Regulation 30 of the SEBI Listing Regulations, 2015. As per Para A of Part A of Schedule III, companies are required to disclose any material events or actions taken by statutory or regulatory authorities that could affect the business or finances of the listed entity.

Nature of the Appeal and Background

The matter relates to a dispute over IGST refunds claimed on the export of goods by Aym Syntex Limited. The company had sought an IGST refund for exports conducted in the previous financial periods. However, upon review, the authorities imposed a tax demand and penalty after identifying discrepancies in the refund claims.

Penalty and Tax Demand Breakdown

• Tax Demand: INR 9,81,578/- levied by the Commissioner (Appeals) of CGST, Surat.

• Penalty Imposed: INR 98,157/- for discrepancies related to IGST refund claims.

Impact on Shareholders and Market Perception

Despite the imposition of a tax demand and penalty, Aym Syntex Limited has reiterated that there will be no material financial impact on the company’s operations. The company has assured investors and stakeholders that its business continuity and operational activities remain unaffected.

Evaluation of Further Course of Action

Following the receipt of the order, Aym Syntex Limited has initiated an evaluation process to determine the most suitable course of action. The company may consider filing an appeal or taking appropriate legal recourse to address the concerns raised by the authorities.

Regulatory Transparency and Disclosure Practices

Aym Syntex Limited has demonstrated its commitment to maintaining transparency and compliance with regulatory norms by disclosing this order to the exchanges promptly. The company remains vigilant in adhering to the regulatory guidelines set by the Securities and Exchange Board of India (SEBI) to safeguard the interests of its stakeholders.

No Material Impact on Company Operations

As reiterated by the company, the tax demand and penalty do not have a significant impact on the company’s financial position or operational performance. This assurance is expected to mitigate any market concerns arising from the order.

Future Implications and Next Steps

Although there is no immediate financial impact, Aym Syntex Limited remains proactive in addressing the matter. The company will likely explore all legal and procedural options to contest or resolve the order. Shareholders and stakeholders will be updated with further developments as the company proceeds with its evaluation.

Key Takeaways for Stakeholders

• No Operational Impact: The order does not affect the company’s day-to-day business.

• Financial Stability Maintained: There is no material impact on the financials.

• Compliance with SEBI Guidelines: Disclosure has been made following SEBI Listing Regulations.

Final Note

Aym Syntex Limited has assured its shareholders and stakeholders that the company is taking all necessary steps to address the situation effectively. While the company continues to evaluate further actions, it maintains its stance of ensuring compliance and protecting stakeholder interests. The timely disclosure of this order reinforces the company’s commitment to transparency and corporate governance.

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