GST order creates Rs 1.14 crore tax and penalty exposure

Regulatory & Legal View source PDF Explain this filing

MANGLMCEM · price

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

+2.7%Reaction day

₹730.05

prior close

₹735.30

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+1.0%+1.7% vs market

Cement & Cement Products peers, median of 36sector+0.4%+2.3% vs sector

On the reaction day the stock moved 1.7 pts more than Nifty Microcap 250 and 2.3 pts more than its Cement & Cement Products 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

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Reaction day

+2.7+1.0+1.7+0.4+2.3

Next day

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15d

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UpDownMarket · Nifty Microcap 250Sector · Cement & Cement Products peers, median of 36Pending

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

AI summary

A Jaipur GST authority ruled that Rs 56.86 lakh of input tax credit claimed by the company was not allowed and ordered it recovered. It imposed an equal penalty, taking the quantified impact to Rs 1.14 crore, plus interest not yet quantified. Another Rs 34.92 lakh tax-credit claim was dropped. The company disputes the ruling and plans to appeal within three months.

Likely market impact

Potential cash outflow is Rs 1.14 crore plus unquantified interest if the order stands; an appeal could reduce or reverse the exposure.