GST show cause notice for FY23 input tax credit - Rs 1.77 lakh

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

-4.4%Reaction day

₹108.95

prior close

₹109.90

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-1.6%-2.8% vs market

Tyres & Rubber Products peers, median of 15sector-0.9%-3.5% vs sector

On the reaction day the stock moved 2.8 pts less than Nifty Microcap 250 and 3.5 pts less than its Tyres & Rubber Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

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10m

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15m

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30m

-4.9

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-4.4-1.6-2.8-0.9-3.5

Next day

-7.3-0.6-6.7-0.3-7.0

-4.6-0.8-3.7-1.2-3.4

-2.3-2.1-0.2-0.3-2.0

-5.4-2.1-3.3-1.1-4.3

-4.1-0.8-3.3-1.1-3.1

-4.6-3.8-0.8-2.6-2.0

15d

-4.5-6.9+2.4-3.2-1.4

-2.9-8.0+5.1-4.9+2.1

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UpDownMarket · Nifty Microcap 250Sector · Tyres & Rubber Products peers, median of 15Pending

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

AI summary

Indag Rubber received a show cause notice from the Joint Commissioner of Commercial Taxes, Bhiwadi, Rajasthan under Section 73 of the CGST Act for FY 2022-23, alleging wrongly availed input tax credit. Total disputed amount including interest is Rs 1.77 lakh (IGST Rs 1.76 lakh plus nominal SGST and CGST). Company states no material impact on financials or operations and will file its response within prescribed timelines.

Likely market impact

Minor - under Rs 2 lakh in dispute. No material financial or operational impact per company.