Announced Thu, 16 Jul · 17:16 IST
ASK Automotive loses GST appeal; Rs 1.07 Cr demand upheld, to file further appeal
ASKAUTOLTD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-1.5%1-day move
₹485.20
prior close
₹487.00
base price
After-mkt
timing
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-0.9-0.7-0.5-1.0-1.5-0.0+0.3+3.9+5.0—————
Up moveDown movePending
AI summary
ASK Automotive received an order from the Deputy Commissioner (Appeals), Hosur, dismissing its appeal against a GST tax demand of Rs 1.07 Crore (including GST, interest, and penalty) raised by the Deputy State Tax Officer II under Section 74 of the CGST and TNGST Acts. The Company believes the demand is not legally sustainable and plans to appeal before a higher authority. Management stated there is no material impact on financials, operations, or other activities.
Likely market impact
Minor tax setback of Rs 1.07 Cr; company will appeal further. Management says no material impact on operations or financials.