Delta Manufacturing receives GST demand of about Rs 5.94 lakh from MIDC

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Nifty Microcap 250market · in no size index; the smallest one is used+0.4%-3.9% vs market

Other Industrial Products peers, median of 24sector+0.0%-3.5% vs sector

On the reaction day the stock moved 3.9 pts less than Nifty Microcap 250 and 3.5 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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AI summary

Maharashtra Industrial Development Corporation (MIDC) has demanded Rupees 5,94,081.56 from Delta Manufacturing for GST and interest for the period July 2017 to September 2022. MIDC had paid GST on services provided to the company but did not collect it at that time. The company is examining the demand and will submit its reply within prescribed timelines based on consultant advice.

Likely market impact

Minor financial impact of about Rs 5.94 lakh. Company is reviewing the demand and will respond. Not material to operations.