Aeroflex Enterprises Limited (AEL) has disclosed that its subsidiary, Aeroflex Industries Limited (AIL), has received an order from the Office of the Superintendent, Central GST Commissionerate, Raigad. The order, issued under Section 74 of the CGST Act 2017, raises a demand of ₹3,59,70,285 plus a penalty of ₹3,59,70,285, totaling ₹7,19,40,570. The issue pertains to input tax credit on expenses related to the Initial Public Offering (IPO) and other matters for the tax period from April 2021 to March 2024. The order was uploaded on the GST portal on April 7, 2026, and AIL became aware of it on April 8, 2026. Despite the demand, AIL intends to file an appeal and is confident of a favorable outcome, not expecting any material financial impact on its operations.
