GST show cause notice for FY23, potential Rs 11.11 Cr impact

Court Stay ObtainedRegulatory & Legal View source PDF Explain this filing

ARTEMISMED · price

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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

-6.0%Reaction day

₹368.95

prior close

₹368.95

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.3%-5.7% vs market

Hospital peers, median of 28sector-1.8%-4.1% vs sector

On the reaction day the stock moved 5.7 pts less than Nifty Microcap 250 and 4.1 pts less than its Hospital 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

-0.3

10m

-0.9

15m

-1.0

30m

-4.2

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-6.0-0.3-5.7-1.8-4.1

Next day

-8.9-1.5-7.4-2.3-6.6

-11.9-1.5-10.4-3.9-8.0

-13.6-0.2-13.3-3.4-10.1

-13.8-0.5-13.3-4.9-8.8

-16.3-3.2-13.0-6.2-10.0

-15.8-2.2-13.7-5.4-10.4

15d

-24.5-9.5-15.0-11.6-12.9

-19.7pendingpending-7.5-12.2

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UpDownMarket · Nifty Microcap 250Sector · Hospital peers, median of 28Pending

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

AI summary

Artemis Medicare Services received a GST show cause notice from CGST Gurugram dated Sep 28, 2026 for FY 2022-23. The department alleges the company charged MRP including GST on medicines, consumables and implants from in-patients but did not remit the GST. Potential impact is Rs 11.11 Crore plus interest and penalty. The company is filing a writ at Punjab and Haryana High Court to connect with an earlier writ where stay was granted.

Likely market impact

Rs 11.11 Cr plus interest/penalty exposure if stay not extended. Earlier similar matter has High Court stay, which is positive.