Intimation of Imposition of Penalty
ISGEC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.7 pts less than Nifty Microcap 250 and 1.5 pts less than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
ISGEC Heavy Engineering Ltd received an order from the Assistant Commissioner/GSTO, Ward 62, Zone 5, Delhi imposing a total demand of Rs.37,74,378 for excess availment of Input Tax Credit during FY 2022-23. The demand comprises a tax demand of Rs.20,70,589, a penalty of Rs.2,20,112, and interest of Rs.14,83,677. The company received the order on May 15, 2026, and has stated its intention to file an appeal under the Goods and Services Tax Act. The disclosure is made under SEBI Listing Regulations (Regulation 30) due to the financial impact exceeding a material threshold.
While the financial impact is relatively modest at approximately Rs.37.7 lakh for a company of this size, the penalty involves a tax authority allegation of ITC misuse, which could attract regulatory scrutiny. The company's decision to appeal suggests it contests the demand, and the outcome of the appeal will determine whether this results in a loss.