GST Show Cause Notice for FY 2022-23, total demand of about Rs 3.23 Cr
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On the reaction day the stock moved 1.4 pts less than Nifty Microcap 250 and 0.4 pts less than its Pesticides & Agrochemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Advance Agrolife received a Show Cause-cum-Demand Notice from the Rajasthan GST Department (Deputy Commissioner, Circle Bagru-Dudu, Jaipur) alleging short payment of GST for FY 2022-23 due to mismatches between e-way bill data and GST returns. Proposed demand: tax Rs 1.84 Cr, interest Rs 1.20 Cr, penalty Rs 18.53 Lakhs, totalling about Rs 3.23 Cr. Company states there is no material impact and is filing a reply within the stipulated time.
Company says no material financial impact. Outcome depends on resolution with tax authorities; small-cap shareholders should monitor.