BlackBuck loses GST appeal; around Rs 22.42 crore demand confirmed

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BLACKBUCK · 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

+0.3%Reaction day

₹540.95

prior close

₹550.50

announcement price

In-mkt

timing

Nifty Microcap 250market+1.1%-0.8% vs market

Transport Services peers, median of 58sector · industry level+0.5%-0.2% vs sector

On the reaction day the stock moved 0.8 pts less than Nifty Microcap 250 and 0.2 pts less than its Transport Services 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

+0.2

10m

+0.3

15m

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30m

+0.2

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+0.3+1.1-0.8+0.5-0.2

Next day

+2.2+2.4-0.2+1.7+0.5

+0.7+2.9-2.1+2.6-1.8

+3.0+4.2-1.2+2.8+0.2

+2.7+4.6-1.9+3.1-0.4

+5.4+4.6+0.8+2.3+3.0

+5.5+4.4+1.1+1.1+4.4

15d

+16.5+5.7+10.7+1.6+14.9

+9.6+6.6+3.1+1.2+8.5

+12.3+5.4+6.9+0.3+12.0

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UpDownMarket · Nifty Microcap 250Sector · Transport Services peers, median of 58Pending

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

AI summary

BlackBuck's appeal against a GST Input Tax Credit demand for FY2020-21 was dismissed by the Joint Commissioner of Commercial Taxes (Appeals), Bengaluru. Total demand of around Rs 22.42 crore confirmed, comprising Rs 10.01 crore tax, Rs 11.41 crore interest, and Rs 1 crore penalty. Company had earlier deposited about Rs 1 crore as pre-deposit. BlackBuck plans to appeal further before the GST Appellate Tribunal.

Likely market impact

Negative: around Rs 22.42 crore tax demand confirmed. Company plans further appeal to GSTAT. Possible cash outflow and earnings hit if upheld.