GST scrutiny notice received for FY 2022-23 over ITC claim

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₹65.70

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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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AI summary

Harish Textile Engineers received a GST scrutiny notice from the Assistant Commissioner of State Tax, Vapi for FY 2022-23. The notice alleges excess Input Tax Credit claim of about Rs 1.93 lakh, with proposed interest of Rs 1.32 lakh and penalty of about Rs 29,001. The company says this is only a clarification-seeking notice, no demand or order passed yet. It is preparing a detailed reply with supporting documents within the prescribed timeline.

Likely market impact

Small-ticket matter for now. No demand or order yet, only an initial scrutiny notice. Watch for the company's response and any future order.