GST penalty of Rs 66.71 lakh; company plans to appeal
KANSAINER · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 4.6 pts more than Nifty Microcap 250 and 1.6 pts more than its Paints 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.
The tax authority in Raipur imposed a Rs 66,70,686 penalty for partly disallowing tax credit claimed by the company for FY 2020-21 through FY 2023-24. Kansai Nerolac says the order is based on incorrect facts, has supporting records and plans to appeal.
The company says the penalty has no material effect on finances or operations, though the appeal remains pending.