High Court quashes Rs 3.33 crore IGST demand

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

-2.2%Reaction day

₹225.99

prior close

₹229.00

announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.8%-3.0% vs market

Specialty Chemicals peers, median of 83sector-0.0%-2.2% vs sector

On the reaction day the stock moved 3.0 pts less than Nifty Microcap 250 and 2.2 pts less than its Specialty Chemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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UpDownMarket · Nifty Microcap 250Sector · Specialty Chemicals peers, median of 83Pending

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AI summary

The Bombay High Court has quashed the Palghar CGST and Central Excise order seeking Rs 3,33,21,032 of IGST for October 2017 to March 2022, along with interest and penalty. This ends the tax recovery demand that Camlin Fine Sciences had challenged.

Likely market impact

Positive for shareholders as it removes a Rs 3.33 crore tax claim plus interest and penalty, reducing financial uncertainty. The penalty amount was not stated.