Announced Wed, 21 Oct, 2026 · 12:40 IST

GST show cause notice on Rs 23 lakh refund claim

Price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close
-5.8%Reaction day
₹62.58
prior close
₹61.98
announcement price
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Nifty Microcap 250market · in no size index; the smallest one is used-2.6%-3.1% vs market
Industrial Products peers, median of 130sector-3.1%-2.7% vs sector

On the reaction day the stock moved 3.1 pts less than Nifty Microcap 250 and 2.7 pts less 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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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 has received a show cause notice (Form GST RFD-08) dated 16 October 2026 from the Deputy Commissioner of State Tax, Nashik, regarding its GST refund application for January to March 2026. The department flagged discrepancies in input tax credit claimed from certain suppliers and differences in Net ITC reported, and has proposed rejecting the refund to the extent of Rs 23,02,781. The company is examining the notice, will file a reply with supporting documents, and is scheduled for a personal hearing on 22 October 2026. No final order has been passed yet.

Likely market impact

Potential refund rejection of about Rs 23 lakh; matter at show cause stage, financial impact not yet determinable.