Subsidiary gets GST demand orders of about Rs 14.49 crores in appeal

Litigation LossRegulatory & Legal View source PDF Explain this filing

KALPATARU · price

Loading chart…

▲ 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

+0.9%Reaction day

₹336.00

prior close

₹340.50

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+1.0%-0.1% vs market

Residential Commercial Projects peers, median of 61sector+0.3%+0.6% vs sector

On the reaction day the stock moved 0.1 pts less than Nifty Microcap 250 and 0.6 pts more than its Residential Commercial Projects 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

+0.2

10m

-0.1

15m

+0.2

30m

+0.1

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+0.9+1.0-0.1+0.3+0.6

Next day

+3.9+1.3+2.6+0.4+3.4

+3.6-0.2+3.7-0.9+4.5

+1.5-0.3+1.8-0.7+2.2

+0.6-0.2+0.8-1.1+1.7

-0.3-1.4+1.1-2.8+2.5

-0.7-1.0+0.3-2.7+2.0

15d

-9.7-6.3-3.4-9.9+0.3

-10.8-9.0-1.8-14.1+3.3

-7.2+3.5-10.7-1.9-5.2

-2.5+4.6-7.2-6.0+3.5

UpDownMarket · Nifty Microcap 250Sector · Residential Commercial Projects peers, median of 61Pending

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

AI summary

Kalpataru's wholly owned subsidiary Ananta Landmarks received two GST demand orders from the Joint Commissioner of State Tax (Appeals). Order 1 imposes a demand of Rs 14.18 crores for July 2017 to March 2018, and Order 2 imposes Rs 30.67 lakhs for FY 2018-19, both inclusive of interest and penalty. The appellate authority partially rejected the appeals. The company states these orders do not have a material financial impact. The subsidiary plans to file further appeals and believes it has a strong case based on external legal and tax advice.

Likely market impact

Company says orders are not material. Subsidiary will appeal further, confident of a favourable outcome.