Aries Agro faces about Rs 3.96 Cr GST demand upheld; to appeal further

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ARIES · price

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

-3.5%Reaction day

₹502.00

prior close

₹501.50

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.4%-4.0% vs market

Fertilizers peers, median of 21sector-0.6%-3.0% vs sector

On the reaction day the stock moved 4.0 pts less than Nifty Microcap 250 and 3.0 pts less than its Fertilizers 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

+0.9

10m

+1.5

15m

+2.6

30m

+3.1

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-3.5+0.4-4.0-0.6-3.0

Next day

-4.0+0.9-4.9-0.7-3.2

-3.4+0.8-4.2-1.5-1.8

-7.4+0.6-7.9-1.4-5.9

-5.3+0.7-6.0-2.2-3.2

-6.2-2.6-3.6-5.2-1.0

-4.0-1.9-2.1-2.6-1.4

15d

-6.2-0.6-5.6-2.7-3.5

-1.6-1.0-0.5-5.6+4.0

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UpDownMarket · Nifty Microcap 250Sector · Fertilizers peers, median of 21Pending

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

AI summary

The GST Appellate Authority in Mazgaon, Mumbai upheld a tax demand of Rs 3,96,45,090 (including interest and penalty) against Aries Agro for FY 2018-19. The dispute relates to Input Tax Credit claimed on inward supplies from vendors whose GST registrations were cancelled retrospectively. The company states it will appeal the order before the GST Appellate Tribunal (GSTAT).

Likely market impact

Rs 3.96 Cr demand confirmed at first appeal. Further appeal pending at GSTAT. Negative outcome unless reversed at higher tribunal.