GST appellate order upheld; company to appeal further at tribunal

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-1.2%Reaction day

₹865.00

prior close

₹862.00

announcement price

After-mkt

timing

Nifty Smallcap 250market · index membership as recorded later (tracked since Jun 2026)-2.7%+1.5% vs market

Auto Components & Equipments peers, median of 110sector-2.9%+1.8% vs sector

On the reaction day the stock moved 1.5 pts more than Nifty Smallcap 250 and 1.8 pts more than its Auto Components & Equipments peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-0.5

10m

-1.2

15m

-1.5

30m

-1.2

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.2-2.7+1.5-2.9+1.8

Next day

-1.5-3.4+1.9-3.2+1.7

-1.0-2.5+1.6-1.3+0.3

-4.4-4.4+0.0-4.0-0.4

-3.6-4.2+0.6-3.4-0.2

-3.2-2.4-0.8-2.1-1.1

-3.0-1.6-1.3-1.3-1.7

15d

+5.4+2.2+3.2+6.7-1.3

-1.4-0.4-1.0+2.9-4.3

-11.7-7.7-4.0-7.1-4.7

-11.6+2.2-13.8+1.8-13.4

UpDownMarket · Nifty Smallcap 250Sector · Auto Components & Equipments peers, median of 110Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Commissioner (Appeals-II, Delhi) upheld original GST order dated Jan 14, 2026 against Amara Raja. Disputed tax demand is about Rs 11.03 crore with an equal penalty, plus interest under Section 50 of CGST Act. Issues include excess ITC claims, warranty supplies, and ITC from non-filers. Company says no material financial or operational impact; liability already disclosed as Contingent Liability. Plans to appeal before GST Tribunal once it is formed.

Likely market impact

Order was upheld but liability was provisioned; appeal pending. Minimal near-term impact on financials or operations.