Ashiana Housing Limited has informed the Exchange about Action(s) initiated or orders passed
ASHIANA · price
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On the reaction day the stock moved 0.7 pts more than Nifty Microcap 250 and 0.9 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.
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Ashiana Housing has received an Order-in-Original from the CGST & CX Range, Adityapur-VI, Jamshedpur, demanding Rs. 10,67,747 in tax and an equal penalty of Rs. 10,67,747 (total ~Rs. 21.35 lakh) under Section 74 of the CGST Act, 2017 for FY 2019-20. The demand relates to an alleged short payment of GST at the company's Jamshedpur location. Notably, the company states it had already voluntarily paid the underlying tax liability of Rs. 10,67,747 through Form DRC-03 during the same financial year. Ashiana plans to contest the matter before the appropriate appellate authority. Management has stated there is no significant impact on financial or operational performance.
For retail investors, this is a relatively minor regulatory matter — the total demand (tax + penalty) of around Rs. 21.35 lakh is small relative to the company's size. Since the company had already paid the tax voluntarily and plans to appeal, the long-term financial hit is likely limited, though the penalty portion remains in dispute.