Ethos Limited's Appeals are Dismissed; Company Fights ₹2.15 Crore GST Penalty
Ethos Limited has confirmed that appeals filed by the company regarding a tax proceeding have been dismissed. The order, received via email on June 04, 2026, from the Commissioner (Appeals-III), CGST & Central Excise, Mumbai, upheld penalties amounting to ₹2,15,78,391 under Section 122(1)(ii) of the Central Goods and Services Tax Act, 2017.The Company stated that it is currently evaluating the adverse order and all appropriate legal remedies available to it. Ethos Limited believes it has sufficient grounds to contest the matter through a further appeal before the competent appellate authority. The company also clarified that the current proceedings do not have any material impact on its operations.
The penalties pertain to an alleged contravention of Section 122(1)(ii) of the Central Goods and Services Tax Act, 2017. Although the Company disputes the allegation, it confirmed that no restriction or other sanction has been imposed by the authority, apart from the penalty amount.
Key details regarding the proceedings are summarized below:
| Particulars | Details |
|---|---|
| Authority | Commissioner (Appeals-III), CGST & Central Excise, Mumbai |
| Penalty Amount | ₹2,15,78,391 |
| Act Violated | Section 122(1)(ii) of the Central Goods and Services Tax Act, 2017 |
| Current Status | Appeals dismissed; penalties upheld |
Ethos Limited continues to evaluate all legal recourse options available. The Company confirmed that it believes it has adequate grounds to contest the matter moving forward.
ETHOSLTD Stock Price Movement
Shares of Ethos Limited settled at ₹2367.1 after trading down 0.04% today, closing marginally lower than its previous close. The stock traded within a range defined by the day's high of ₹2427.9 and hit a low of ₹2361 during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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