DIC India gets Gujarat GST demand order of around Rs 17 lakh for FY22

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Nifty Microcap 250market · in no size index; the smallest one is used-0.5%+3.2% vs market

Chemicals & Petrochemicals peers, median of 187sector · industry level-0.1%+2.8% vs sector

On the reaction day the stock moved 3.2 pts more than Nifty Microcap 250 and 2.8 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 187Pending

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AI summary

DIC India received a demand order from Gujarat State Tax Officer under Section 73 of the GST Act for FY 2021-22. Total demand is Rs 16,96,501 comprising tax of Rs 9,06,074, interest of Rs 6,89,907, and penalty of Rs 1,00,520. The order alleges excess claim of ITC, ineligible ITC, and excess refunds availed. Company states no material financial or operational impact and is reviewing the order to decide next steps.

Likely market impact

Small one-time demand of around Rs 17 lakh. Company is reviewing the order to decide on appeal. No stated material impact on operations.