GST tax demand of Rs 62.73 lakh from Tamil Nadu tax authorities

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

-0.9%Reaction day

₹514.00

prior close

₹510.50

announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used-0.5%-0.4% vs market

Fast Moving Consumer Goods peers, median of 283sector · sector level-0.3%-0.6% vs sector

On the reaction day the stock moved 0.4 pts less than Nifty Microcap 250 and 0.6 pts less than its Fast Moving Consumer Goods 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 · Fast Moving Consumer Goods peers, median of 283Pending

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

AI summary

Hindustan Foods received a GST demand order from the Commercial Tax Officer, Tindivanam for FY 2021-22 over alleged excess Input Tax Credit claimed. Total demand is Rs 35.53 lakh in tax plus Rs 23.45 lakh interest and Rs 3.75 lakh penalty, aggregating Rs 62.73 lakh. Company states there is no material impact on financials or operations and is in the process of contesting the order.

Likely market impact

Minor one-time tax demand; company plans to contest and says no material impact on operations or financials.