Indoco Remedies Limited has informed the Exchange about Order for Drop of Proceeding under GST Act, 2017

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

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₹280.00

prior close

₹275.10

announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used-0.3%+0.4% vs market

Pharmaceuticals peers, median of 148sector-0.5%+0.5% vs sector

On the reaction day the stock moved 0.4 pts more than Nifty Microcap 250 and 0.5 pts more than its Pharmaceuticals 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

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UpDownMarket · Nifty Microcap 250Sector · Pharmaceuticals peers, median of 148Pending

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

AI summary

Indoco Remedies received an order dated 11th June 2025 from the Office of the Deputy Commissioner of State Tax, Mumbai, dropping the GST proceedings that had been initiated against the company. The original notice, issued on 7th February 2025 under Rule 99(1) in Form GST ASMT-10, related to a difference in the claim of Input Tax Credit (ITC) in returns. A potential tax demand of Rs. 158.00 Lakhs was withdrawn as part of this order. The company had duly replied to the notice and the matter has now been resolved in its favour with no financial or operational impact.

Likely market impact

Positive for shareholders — the Rs. 158 lakh potential tax demand has been fully withdrawn, removing a regulatory overhang and confirming no financial liability from this matter.