GST penalty order of Rs 80.28 lakh; company to appeal

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

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prior close

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Nifty Microcap 250market · index membership as recorded later (tracked since Jun 2026)-0.1%+0.1% vs market

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On the reaction day the stock moved 0.1 pts more than Nifty Microcap 250 and 0.1 pts less than its Paints peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Kansai Nerolac Paints received an order from the Deputy Commissioner of State Tax, Mumbai, imposing a penalty of Rs 80,28,564 (about Rs 80.28 lakh) under Section 73 of the CGST Act, 2017. The demand relates to partial disallowance of input tax credit claimed by the company for FY 2021-22 in Maharashtra. The company says it has records to support its ITC claim and will file an appeal. Management states there is no material impact on financials or operations.

Likely market impact

Minor penalty relative to company size; firm plans to appeal and confirms no material impact on financials or operations.