Delta Manufacturing Limited has informed the Exchange about General Updates
DELTAMAGNT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.4 pts less than Nifty Microcap 250 and 0.5 pts less than its Other Industrial Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Delta Manufacturing Limited has received a Show Cause Notice from the Office of the Deputy Commissioner of State Tax, Nashik, under Section 63 of the CGST Act, 2017 and MGST Act, 2017 for FY 2021-22. The notice pertains to Arrow Textiles Private Limited, which merged with the company via an NCLT order dated 27th December 2019. The alleged issue is non-payment of GST, along with applicable penalty and interest, on the assignment/transfer of leasehold rights in land and an industrial shed on a leased MIDC plot. The total demand aggregates to INR 1,37,27,532 (approximately ₹1.37 crore). The company has stated that there is no material impact on its financial, operational, or other activities.
The demand amount of ~₹1.37 crore is not considered material by the company. However, if the notice culminates in an unfavorable order, it could lead to an outgo with interest and penalties. Near-term impact on the stock is likely limited, but investors should watch for further updates on the resolution of this tax matter.