GST tax demand of Rs 13.74 lakh received for FY 2022-23, company to appeal

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

+6.4%Reaction day

₹132.89

prior close

₹133.10

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used+0.1%+6.3% vs market

Residential Commercial Projects peers, median of 65sector-0.2%+6.6% vs sector

On the reaction day the stock moved 6.3 pts more than Nifty Microcap 250 and 6.6 pts more than its Residential Commercial Projects 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

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15m

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30m

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Reaction day

+6.4+0.1+6.3-0.2+6.6

Next day

+4.7-0.9+5.5-1.5+6.2

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UpDownMarket · Nifty Microcap 250Sector · Residential Commercial Projects peers, median of 65Pending

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AI summary

Arkade Developers received a GST tax demand order of Rs 13,73,857 from the Assistant Commissioner, Central GST and Central Excise, Thane Commissionerate. The order dated July 9, 2026 relates to FY 2022-23 and covers alleged issues with input tax credit (ITC) availment for certain transactions, GST payable on Transferable Development Rights (TDRs), and interest on the ITC. The company has stated there is no material impact on its financials or operations and is seeking legal advice to file an appeal.

Likely market impact

Small tax demand relative to company size; no material financial impact stated. Appeal likely, outcome to be watched.