Flair Writing Industries gets GST Show Cause Notice for FY23

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FLAIR · price

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

+0.1%Reaction day

₹249.90

prior close

₹250.00

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used-1.0%+1.0% vs market

Stationary peers, median of 7sector-0.5%+0.6% vs sector

On the reaction day the stock moved 1.0 pts more than Nifty Microcap 250 and 0.6 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

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15m

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Sessions after the filingfrom the prior close

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Reaction day

+0.1-1.0+1.0-0.5+0.6

Next day

-0.9-1.5+0.6-0.7-0.2

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15d

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

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

AI summary

Flair Writing Industries received a Show Cause Notice from the Gujarat State Tax Officer under Section 73 of the CGST Act, 2017, related to GST scrutiny for FY 2022-23. The original audit observation of about Rs. 78.80 lakh has now been quantified at Rs. 26.28 lakh, comprising Rs. 14.89 lakh tax, Rs. 9.89 lakh interest, and Rs. 1.49 lakh penalty. The company will submit its reply and says there is no material financial impact.

Likely market impact

Minor tax dispute worth Rs 26.28 lakh. Company says no material financial impact and will contest the notice on merits.