Announced Thu, 23 Jul · 18:05 IST
Update on SGST demand appeal for FY 2019-20
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CROMPTON · price
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Price reaction · full curve 14 horizons · vs prior close
-1.5%1-day move
₹252.70
prior close
₹249.55
base price
After-mkt
timing
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-1.7-1.8-2.0-2.7-1.5—————————
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AI summary
Crompton Greaves Consumer Electricals received an order from the Joint Commissioner of State Tax Appeal partially allowing the original SGST demand for FY 2019-20 over Input Tax Credit disallowance. Potential impact is about Rs 5.79 crore in tax, interest and penalty. The company plans to further appeal under Section 112 of the SGST Act and expects a favorable order. Management says there is no material impact on financials.
Likely market impact
Tax appeal partially upheld; company plans further appeal; management views impact as not material to financials.