GST appeal order for FY19 tax demand of about Rs 1.24 crore

Regulatory & Legal View source PDF Explain this filing

COROMANDEL · 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

-3.5%Reaction day

₹1995.00

prior close

₹2000.00

announcement price

After-mkt

timing

Nifty Midcap 150market+0.1%-3.6% vs market

Fertilizers peers, median of 22sector+0.6%-4.1% vs sector

On the reaction day the stock moved 3.6 pts less than Nifty Midcap 150 and 4.1 pts less than its Fertilizers 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

+0.1

10m

-0.2

15m

-0.1

30m

-0.6

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-3.5+0.1-3.6+0.6-4.1

Next day

-4.0+0.5-4.5+2.4-6.5

-2.3+0.5-2.8+2.7-5.0

-3.3+0.4-3.7+1.6-4.9

-3.8+0.4-4.2+1.4-5.1

-4.5+0.6-5.0-0.1-4.4

-4.1-1.3-2.8-1.2-2.9

15d

-3.2-4.5+1.3-4.0+0.8

-2.5-4.0+1.6-2.6+0.1

-13.2-11.1-2.1-14.4+1.2

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UpDownMarket · Nifty Midcap 150Sector · Fertilizers peers, median of 22Pending

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

AI summary

Coromandel International received an order from the Joint Commissioner (Appeals), Jammu confirming a tax demand of about Rs 1.24 crore plus penalty of about Rs 12.35 lakh and interest for FY 2018-19. The dispute relates to alleged excess Input Tax Credit (ITC) claimed due to a mismatch between GSTR-3B and GSTR-2A filings. The company plans to appeal before the GST Appellate Tribunal and states there is no significant impact on its financials, operations or other activities.

Likely market impact

Small demand relative to company size. Company is contesting via appeal and expects no material financial impact at this stage.