General Insurance Corporation of India has informed the Exchange about Action(s) taken or orders passed
GICRE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.2 pts more than Nifty Midcap 150 and 0.9 pts more than its General Insurance 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.
GIC Re has received an order in appeal from the Commissioner Appeals CGST & Central Excise, Mumbai, confirming a tax demand of Rs. 3.79 crore (including interest and penalty) under Rule 42 reversal provisions of the CGST Act 2017 for FY 2017-18. Notably, the original demand of Rs. 60.02 crore was significantly reduced by Rs. 56.24 crore in the appeal, meaning the corporation largely won its case. The company has stated there is no material impact on its financials, operations, or other activities. GIC Re plans to file a further appeal at the GST tribunal after consulting its GST consultants.
Minimal to no impact on shareholders — the tax demand has been sharply reduced from Rs. 60 crore to under Rs. 4 crore, which the company deems not material. The stock is unlikely to see significant movement on this news.