Bansal Wire Industries gets GST show cause notice for FY2022-23

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BANSALWIRE · price

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

+0.6%Reaction day

₹315.00

prior close

₹315.20

announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.3%+0.4% vs market

Iron & Steel Products peers, median of 91sector+0.2%+0.4% vs sector

On the reaction day the stock moved 0.4 pts more than Nifty Microcap 250 and 0.4 pts more than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

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Next day

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UpDownMarket · Nifty Microcap 250Sector · Iron & Steel Products peers, median of 91Pending

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

AI summary

Bansal Wire Industries received a GST Show Cause Notice from the UP SGST authority for FY2022-23 over E-way bill issues, excess ITC claims, and non-payment of tax on RODTEP license sales. Total tax, interest and penalty claimed is about Rs 9.88 crore. The company says the notice has no merit and will file a response. Similar SCNs for FY2018-19 to FY2021-22 were resolved for negligible amounts. Company states no material impact on financials or operations.

Likely market impact

Tax demand of about Rs 9.88 crore contested by company. Past similar notices settled cheaply, so impact may stay limited.