Crompton to appeal Rs 8.38 lakh GST interest demand order

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CROMPTON · price

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Nifty Smallcap 250market-2.4%+0.3% vs market

Household Appliances peers, median of 23sector-2.5%+0.4% vs sector

On the reaction day the stock moved 0.3 pts more than Nifty Smallcap 250 and 0.4 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

Crompton received an order from the Deputy Commissioner of Appeals, Chennai upholding a GST interest demand of Rs 8,37,680 for July 2017 to March 2018. The demand (CGST Rs 1,02,449 and SGST Rs 7,35,231) is for delayed filing of GSTR-3B returns, though tax was paid on time and filing was delayed due to a GSTN portal error. The company will appeal under Section 112 of the SGST Act and expects a favorable outcome. No tax, only interest. Impact is not material to financials.

Likely market impact

Minor tax matter of Rs 8.38 lakh in interest only. Not material to financials. Company plans to appeal.