Eureka Forbes gets GST show cause notice for Rs 273.40 crore demand
EUREKAFORB · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.6 pts less than Nifty Microcap 250 and 1.5 pts more than its Household Appliances peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Eureka Forbes received a Show Cause Notice from the Uttar Pradesh GST Authority for FY 2022-23, alleging a tax liability of Rs 149.21 crore, interest of Rs 109.27 crore, and penalty of Rs 14.92 crore, totaling Rs 273.40 crore. The company says the demand appears to rely on pan-India financials without establishing UP-specific transaction liability. It disputes the merits and plans to contest within prescribed timelines, expecting no material impact on financials or operations.
Company contests the demand; management sees no material effect on financials. Watch for hearing outcome and any future demand crystallisation.