DIC India gets GST demand cut from Rs 6.71 cr to Rs 3.8 lakh

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Nifty Microcap 250market · in no size index; the smallest one is used-0.5%+0.9% vs market

Chemicals & Petrochemicals peers, median of 186sector · industry level-0.1%+0.5% vs sector

On the reaction day the stock moved 0.9 pts more than Nifty Microcap 250 and 0.5 pts more than its Chemicals & Petrochemicals 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 Microcap 250Sector · Chemicals & Petrochemicals peers, median of 186Pending

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AI summary

DIC India received a final GST order from Karnataka tax authorities for FY 2021-22. Original demand of Rs 6,71,07,387 (about Rs 6.71 crore) was reduced to just Rs 3,81,602 (about Rs 3.8 lakh) after company representation, a cut of around Rs 6.67 crore. The matter involved alleged input tax credit issues with suppliers. Company is reviewing the order to decide next steps and says no material financial impact is expected.

Likely market impact

Massive reduction in tax demand is positive for shareholders; final liability is negligible.