SGST appeal dismissed; tax demand of about Rs 38.5 crore reinstated

Litigation lossRegulatory & Legal View source PDF Explain this filing

SHREECEM · price

Loading chart…

▲ 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

-1.2%Reaction day

₹26085.00

prior close

₹26085.00

announcement price

After-mkt

timing

Nifty 100market+0.2%-1.4% vs market

Cement & Cement Products peers, median of 35sector-0.7%-0.5% vs sector

On the reaction day the stock moved 1.4 pts less than Nifty 100 and 0.5 pts less than its Cement & Cement Products 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

+0.7

10m

+0.4

15m

+0.6

30m

+0.4

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.2+0.2-1.4-0.7-0.5

Next day

-3.5-0.4-3.1-0.9-2.6

-3.1-0.6-2.4-1.2-1.9

-0.8-0.0-0.7-0.7-0.1

+0.5+0.6-0.1-0.0+0.6

+2.6+0.9+1.7+1.1+1.5

+1.8+1.3+0.5-0.4+2.2

15d

+1.6+1.0+0.6+0.3+1.3

+2.6+0.1+2.6-0.4+3.0

-6.3+1.7-8.0-3.9-2.5

-13.7-3.1-10.6-8.1-5.6

UpDownMarket · Nifty 100Sector · Cement & Cement Products peers, median of 35Pending

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

AI summary

Shree Cement's appeal against two SGST Patna demand orders was dismissed on technical grounds, reinstating combined tax demand of about Rs 38.5 crore, interest of about Rs 24.4 crore, and penalty of about Rs 3.85 crore. The orders relate to alleged excess ITC and valuation issues. The company says there is no major financial impact and will file a further appeal before the GST Appellate Tribunal.

Likely market impact

Mildly negative - tax demand reinstated on technical grounds, but company plans further appeal and says no major financial hit.