GST show cause notice for around Rs 1.84 crore on input tax credit disallowance

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JSWDULUX · price

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

-0.2%Reaction day

₹3093.00

prior close

₹3145.00

announcement price

After-mkt

timing

Nifty Smallcap 250market+0.6%-0.8% vs market

Paints peers, median of 8sector-0.2%-0.0% vs sector

On the reaction day the stock moved 0.8 pts less than Nifty Smallcap 250 and in line with its Paints 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

-1.7

10m

-1.9

15m

-1.7

30m

-2.1

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-0.2+0.6-0.8-0.2-0.0

Next day

+0.7+1.0-0.3+0.2+0.6

+0.7+0.8-0.0-0.3+1.0

+0.9+0.6+0.2-1.0+1.9

+0.6+1.2-0.6-0.4+1.0

+1.1+1.1-0.0-1.0+2.0

+2.5+0.8+1.7-2.2+4.6

15d

+3.0+1.1+1.9-5.0+8.0

+2.1+0.3+1.8-7.5+9.6

-3.2-6.5+3.4-10.6+7.5

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UpDownMarket · Nifty Smallcap 250Sector · Paints peers, median of 8Pending

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

AI summary

JSW Dulux (formerly Akzo Nobel India) received a show cause notice from the Odisha GST Department on 18 August 2026. The notice proposes disallowing input tax credit claimed for April 2022 to March 2023, with a total demand of about Rs 1.84 crore, comprising Rs 1.08 crore in tax, Rs 64.8 lakh in interest, and Rs 11.2 lakh in penalty. The company is preparing to respond within the stipulated time and the matter is pending.

Likely market impact

Potential tax demand of Rs 1.84 crore being contested. Company is responding; small relative to overall operations, monitoring needed.