GST scrutiny notice received for FY 2022-23, no demand yet

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

+3.5%Reaction day

₹65.70

prior close

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.6%+2.9% vs market

Industrial Products peers, median of 130sector-0.1%+3.6% vs sector

On the reaction day the stock moved 2.9 pts more than Nifty Microcap 250 and 3.6 pts more than its Industrial Products 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

+3.5+0.6+2.9-0.1+3.6

Next day

+2.0+0.9+1.0-0.0+2.0

+3.5-0.2+3.7-1.1+4.6

+6.4-0.9+7.3-1.4+7.8

+2.0-0.5+2.5-1.6+3.6

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-0.3-0.0-0.3-1.8+1.5

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+8.1+3.9+4.1-0.1+8.1

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-0.3+5.1-5.4+0.7-1.0

-10.2-1.6-8.6-3.3-6.9

UpDownMarket · Nifty Microcap 250Sector · Industrial Products peers, median of 130Pending

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

AI summary

Harish Textile Engineers received a GST scrutiny notice (Form DRC-01A) from the Assistant Commissioner of State Tax, Vapi for FY 2022-23. It alleges short tax payment due to differences between E-Way Bills and GSTR-1 returns, plus excess Input Tax Credit claim of Rs 9.09 lakh. Proposed interest of Rs 6.21 lakh and penalty of Rs 10.92 lakh may apply. No demand or adverse order has been passed yet. The company is examining the notice and will submit a reply with supporting documents within the prescribed timeline.

Likely market impact

Minor for now. Scrutiny stage only with no demand raised. Potential liability around Rs 26 lakh if notice is upheld.