CARRARO: Carraro India Limited has informed the Exchange about receipt of Show Cause Notice Cum Demand under CGST Act, 2017.

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

+4.8%Reaction day

₹435.00

prior close

₹435.30

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used+0.9%+4.0% vs market

Auto Components & Equipments peers, median of 107sector+0.8%+4.0% vs sector

On the reaction day the stock moved 4.0 pts more than Nifty Microcap 250 and 4.0 pts more than its Auto Components & Equipments 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

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15m

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30m

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Reaction day

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Next day

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15d

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UpDownMarket · Nifty Microcap 250Sector · Auto Components & Equipments peers, median of 107Pending

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AI summary

Carraro India has received a Show Cause Notice Cum Demand from the CGST Pune-I Commissionerate alleging that the company generated multiple E-Way bills for the same invoice during FY 2018-19, which was not declared in its GST returns. The tax demand is Rs. 17.68 lakh, with an equivalent penalty of Rs. 17.68 lakh, taking the total demand to Rs. 35.36 lakh. The company will file its response within 30 days, based on legal advice, and expects to receive relief. The company has stated there is no immediate impact on its financial position or operations from this notice.

Likely market impact

The financial impact is small (about Rs. 35.36 lakh) compared to a typical large-cap company, and the company is confident of receiving relief. Shareholders are unlikely to see any material effect on the stock, though the matter will be watched until resolved.