Maruti Suzuki receives GST adjudication order from West Bengal authority

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

+5.0%Reaction day

₹13474.00

prior close

₹13744.00

announcement price

After-mkt

timing

Nifty 100market-0.2%+5.2% vs market

Passenger Cars & Utility Vehicles peers, median of 6sector+1.2%+3.8% vs sector

On the reaction day the stock moved 5.2 pts more than Nifty 100 and 3.8 pts more than its Passenger Cars & Utility Vehicles 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

-1.3

10m

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15m

-1.6

30m

-0.8

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+5.0-0.2+5.2+1.2+3.8

Next day

+6.7+0.4+6.3+1.3+5.3

+6.4+1.0+5.4+2.7+3.7

+6.5+1.3+5.2+1.1+5.4

+7.4+2.0+5.5+2.1+5.3

+7.8+1.7+6.1+1.1+6.7

+1.7+0.1+1.7-1.8+3.5

15d

+1.2+1.1+0.1-2.2+3.4

+5.2+1.6+3.7-2.3+7.5

+0.5+1.0-0.5-6.3+6.8

-11.2-5.0-6.2-6.7-4.5

UpDownMarket · Nifty 100Sector · Passenger Cars & Utility Vehicles peers, median of 6Pending

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

AI summary

Maruti Suzuki received three Adjudication Orders from the West Bengal GST Department for April 2020 to March 2023, confirming a tax demand of about Rs. 34.45 million plus an equal penalty and applicable interest on GST credit availment. A separate demand of Rs. 0.05 million was dropped. The company will appeal to the first appellate authority and states there is no major financial or operational impact.

Likely market impact

Minor tax matter with no material impact on financials. Company plans to appeal against the order.