CGST tax demand of about Rs 2.16 crore plus interest on disallowed ITC

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

-2.6%Reaction day

₹319.20

prior close

₹310.05

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-1.6%-0.9% vs market

Plywood Boards/ Laminates peers, median of 11sector-0.0%-2.6% vs sector

On the reaction day the stock moved 0.9 pts less than Nifty Microcap 250 and 2.6 pts less 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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Reaction day

-2.6-1.6-0.9-0.0-2.6

Next day

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-5.5-2.6-2.9-1.5-4.0

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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

Greenply Industries received an order from the Assistant Commissioner of Central Tax, Bishnupur Division, Kolkata, disallowing Input Tax Credit availed for FY 2020-21 to FY 2023-24. The total tax demand is Rs 1.08 crore with an equal penalty of Rs 1.08 crore, plus applicable interest. The company says there is no material impact on financials or operations and plans to file a rectification or appeal within the prescribed timeline, calling its case strong on merits.

Likely market impact

Adverse tax order of about 2.16 crore plus interest; company will appeal and says no material financial impact