GST penalty of Rs 17.75 lakh set aside in appeal, refund ordered

Court Stay ObtainedRegulatory & Legal View source PDF Explain this filing

DOMS · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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

-1.6%Reaction day

₹2269.00

prior close

₹2271.20

announcement price

In-mkt

timing

Nifty Smallcap 250market-1.2%-0.4% vs market

Stationary peers, median of 7sector-1.7%+0.1% vs sector

On the reaction day the stock moved 0.4 pts less than Nifty Smallcap 250 and 0.1 pts more than its Stationary peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

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10m

+0.1

15m

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30m

+0.3

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.6-1.2-0.4-1.7+0.1

Next day

-1.5-1.5+0.0-0.1-1.3

-0.4-0.2-0.2+0.6-1.0

+0.5-0.7+1.2-0.4+1.0

+0.7+0.6+0.0-2.2+2.9

-0.7-0.1-0.6-2.4+1.7

-1.2+1.7-2.9-1.6+0.4

15d

-1.7+2.8-4.5-6.1+4.4

-3.0+2.9-5.8-3.8+0.8

-5.7+3.1-8.8-10.0+4.3

-18.0-8.3-9.7-16.4-1.6

UpDownMarket · Nifty Smallcap 250Sector · Stationary peers, median of 7Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

DOMS Industries won its appeal against a GST penalty of Rs 17,75,790 levied by the State Tax Officer in Kashmir for alleged transport of taxable goods without cover of specified documents. The Appellate Authority in Srinagar set aside the allegations and the penalty, and directed the Proper Officer to refund the full amount with applicable interest within 30 days. The appellate proceedings are now concluded with no material impact on operations.

Likely market impact

Positive for shareholders - penalty fully reversed and refund expected within 30 days. Negligible financial impact overall.