Tax appeal on VAT input tax credit disallowance in Odisha

Regulatory & Legal View source PDF Explain this filing

JINDALSTEL · 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

+3.5%Reaction day

₹1053.50

prior close

₹1089.80

announcement price

In-mkt

timing

Nifty 100market+1.0%+2.4% vs market

Iron & Steel peers, median of 10sector+2.6%+0.9% vs sector

On the reaction day the stock moved 2.4 pts more than Nifty 100 and 0.9 pts more than its Iron & Steel 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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15m

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30m

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Sessions after the filingfrom the prior close

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Reaction day

+3.5+1.0+2.4+2.6+0.9

Next day

+3.9+1.3+2.6+1.6+2.3

+4.6+1.8+2.8+1.7+2.9

+4.9+3.3+1.6+2.6+2.3

+5.8+2.7+3.2+4.1+1.7

+5.8+2.8+3.0+5.6+0.2

+4.7+2.7+2.0+3.7+1.0

15d

+5.8+0.8+5.1+0.3+5.6

+13.2+0.8+12.5+1.7+11.5

+7.3-5.0+12.2+0.1+7.2

+0.6-4.6+5.2-7.5+8.2

UpDownMarket · Nifty 100Sector · Iron & Steel peers, median of 10Pending

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AI summary

Jindal Steel received an order from the VAT appellate authority in Cuttack disallowing input tax credit of Rs 5.69 crore claimed on capital goods under the Odisha VAT Act, with a penalty of Rs 11.38 crore. The company says the amounts are not material and will file an appeal. A pre-deposit of Rs 0.57 crore is required to file the appeal, refundable if the appeal succeeds.

Likely market impact

Company deems amounts non-material and order is appealable, so limited near-term impact on financials.