Subsidiary gets GST show cause notice for Rs 7.73 crore over input tax credit

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GREENLAM · price

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

-0.2%Reaction day

₹212.63

prior close

₹212.85

announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used-1.3%+1.1% vs market

Plywood Boards/ Laminates peers, median of 11sector-2.2%+2.0% vs sector

On the reaction day the stock moved 1.1 pts more than Nifty Microcap 250 and 2.0 pts more than its Plywood Boards/ Laminates peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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UpDownMarket · Nifty Microcap 250Sector · Plywood Boards/ Laminates peers, median of 11Pending

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

AI summary

Wholly owned subsidiary Greenlam Limited received a Show Cause Notice from the Andhra Pradesh GST authorities dated September 29, 2026, alleging ineligible input tax credit of Rs 7.73 crore for FY 2022-23 under Section 17 of CGST/APGST Act 2017. The subsidiary has 30 days to pay the amount along with interest and penalty or raise objection. Greenlam Industries is reviewing the notice and considering legal recourse.

Likely market impact

Tax dispute at subsidiary level. Company expects no material impact on financials or operations as it plans to contest.