Brigade Enterprises gets GST show cause notice, says no financial impact
BRIGADE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.2 pts less than Nifty Smallcap 250 and 1.2 pts less 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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Brigade Enterprises has received a show cause notice from GST authorities related to alleged tax differences between financial statements and GST returns, excess ITC claims, and short reversal of ITC on exempted turnover. The company states the notice has no merits, was issued without giving a reasonable opportunity to respond, and will file submissions within the deadline. No financial, operational or other impact is expected.
Likely neutral for shareholders as company denies merit and impact; outcome depends on GST authority response to company's submissions.