GST demand of Rs 6.62 lakh set aside in company favour

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DICIND · price

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Price reactionminutes from the announcement price · days from the prior close

-2.0%Reaction day

₹518.60

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Nifty Microcap 250market · in no size index; the smallest one is used+0.6%-2.7% vs market

Chemicals & Petrochemicals peers, median of 192sector · industry level+0.0%-2.0% vs sector

On the reaction day the stock moved 2.7 pts less than Nifty Microcap 250 and 2.0 pts less 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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Reaction day

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UpDownMarket · Nifty Microcap 250Sector · Chemicals & Petrochemicals peers, median of 192Pending

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AI summary

DIC India won its appeal before the Additional Commissioner (Appeals), Noida. The original GST demand of Rs 6,61,766 (tax Rs 6,01,606 plus penalty Rs 60,160) for FY 2021-22, related to alleged non-payment of GST on R&D fees recovered from foreign entities via debit notes, has been fully set aside. Company says no financial or operational impact.

Likely market impact

Positive; the demand is fully withdrawn with no liability. Amount is small relative to company size, so limited share price impact expected.