Crompton Greaves faces about INR 62.83 lakh GST demand, plans to appeal

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

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prior close

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Nifty Smallcap 250market-0.4%+0.2% vs market

Household Appliances peers, median of 23sector-0.9%+0.6% vs sector

On the reaction day the stock moved 0.2 pts more than Nifty Smallcap 250 and 0.6 pts more than its Household Appliances 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 Smallcap 250Sector · Household Appliances peers, median of 23Pending

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AI summary

Commissioner (Appeals), State Tax, Chhattisgarh upheld a GST demand of INR 23.36 lakh plus interest of INR 26.66 lakh and penalty of INR 2.34 lakh, totaling INR 52.36 lakh for July 2017 to March 2018. The demand is about disallowance of transitional credit under GST. Potential total impact is about INR 62.83 lakh. Crompton plans to appeal under Section 112 of SGST Act and expects a favorable order. Company says no material impact on financials.

Likely market impact

Minor tax demand of about INR 62.83 lakh. Company plans to appeal. No material impact on financials or operations as per management.