Ather Energy Gets Relief as Rs. 22.93 Cr GST Fraud Case Closed:

Ather Energy Gets Relief as Rs. 22.93 Cr GST Fraud Case Closed

Bangalore-based Ather Energy Ltd. was served with Show Cause Notice on 3rd January, 2025 by the GST Department, alleging the company of discrepancies in the inverted duty structure refunds that were sanctioned to the company by the GST Department. The Department demanded amounts of INR 47.30 million, INR 60.60 million and INR 121.40 million for the months of August 2021, April 2022, and April 2023 respectively.

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These issues were also mentioned in the company's Prospectus on April 30, 2025 under the Material Litigation and Litigation section.

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Ather Energy Ltd. on June 14, 2025 informed National Stock Exchange of India(NSE) and BSE Limited that all the three charges against them have been dropped by the department after reviewing the company's explanation. This dropping of charges simply means:

• Ather will not have to pay the amount earlier demanded by the GST Department.
• There will be no impact on the financial operations of the company.
• The issue is officially closed now.