GST show cause notice over HSN classification of outgoing supplies

Regulatory & Legal View source PDF Explain this filing

KIRLOSENG · 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

-0.3%Reaction day

₹967.75

prior close

₹975.00

announcement price

After-mkt

timing

Nifty Smallcap 250market · index membership as recorded later (tracked since Jun 2026)-0.9%+0.6% vs market

Compressors Pumps & Diesel Engines peers, median of 12sector-0.8%+0.6% vs sector

On the reaction day the stock moved 0.6 pts more than Nifty Smallcap 250 and 0.6 pts more than its Compressors Pumps & Diesel Engines 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

-1.7

10m

-1.1

15m

-1.2

30m

-0.5

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-0.3-0.9+0.6-0.8+0.6

Next day

-1.1-1.4+0.3-1.2+0.1

+0.4-2.0+2.4-2.6+3.0

-2.6-2.6+0.0-2.7+0.2

-5.6-4.7-0.9-4.4-1.2

-4.9-4.8-0.1-4.7-0.3

-4.3-3.6-0.7-4.6+0.3

15d

-10.1-3.4-6.7-6.7-3.4

-8.0-1.5-6.5-6.3-1.7

+16.4-5.1+21.5-14.7+31.1

+36.0-5.4+41.4-14.2+50.2

UpDownMarket · Nifty Smallcap 250Sector · Compressors Pumps & Diesel Engines peers, median of 12Pending

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

AI summary

On 19 September 2025, the Maharashtra tax department issued a show cause notice for allegedly classifying outward supplies under the wrong HSN code. It proposes a Rs 7.65 crore penalty, Rs 3.20 crore interest and Rs 4.06 crore tax demand, totaling Rs 8.02 crore. The company expects no material impact.

Likely market impact

The proposed total GST exposure is Rs 8.02 crore. The company expects no material effect on operations or finances, limiting likely near-term impact.