GST demand reduced sharply from Rs 9.88 cr to Rs 82.76 lakh for FY23

Regulatory & Legal View source PDF Explain this filing

BANSALWIRE · price

Loading chart…

▲ 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

-0.3%Reaction day

₹316.00

prior close

₹314.50

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.6%+0.3% vs market

Iron & Steel Products peers, median of 95sector-0.4%+0.0% vs sector

On the reaction day the stock moved 0.3 pts more than Nifty Microcap 250 and in line with its Iron & Steel Products 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

+0.0

10m

+0.0

15m

-0.1

30m

+0.0

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-0.3-0.6+0.3-0.4+0.0

Next day

-0.3-1.5+1.2-1.2+0.9

-1.3-1.8+0.6-1.9+0.7

-0.3-0.6+0.3-1.5+1.1

-0.3+0.8-1.1-1.0+0.6

-0.3+0.8-1.2-0.6+0.3

-0.8-0.2-0.5-2.0+1.3

15d

-3.4+1.1-4.5-0.2-3.2

-4.1-3.5-0.6-3.5-0.6

-13.0-3.2-9.7-4.0-9.0

-20.6-12.8-7.8-12.8-7.8

UpDownMarket · Nifty Microcap 250Sector · Iron & Steel Products peers, median of 95Pending

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

AI summary

UP GST authority reduced tax demand for FY2022-23 from Rs 9.88 crore to Rs 82.76 lakh after the company submitted its response. Revised liability includes tax of Rs 32.10 lakh, interest Rs 18.54 lakh, and penalty Rs 32.10 lakh. Allegations related to E-way bill, excess ITC, and RODTEP license tax. Company says no material financial, operational or other impact and plans to file an appeal for further reduction.

Likely market impact

Positive for stock as tax demand dropped sharply from Rs 9.88 cr to Rs 82.76 lakh. Company to appeal for further reduction. No material impact stated.