Announced Wed, 29 Apr · 14:14 IST
Meesho: ₹14.29 Cr CGST Demand Upheld, Plans GSTAT Appeal
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MEESHO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+8.4%1-day move
₹178.99
prior close
₹174.56
base price
In-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-0.2-0.2-0.3-0.4+8.4+21.3+14.6+10.1+10.7+8.4+7.2+2.8+8.9—
Up moveDown movePending
AI summary
Meesho received a CGST Appellate order upholding a ~₹14.29 crore tax demand plus interest and penalty under Section 74, regarding TCS on reseller transactions (Oct 2018–Mar 2020). Penalty under Section 122 was set aside. Company plans to appeal to GSTAT, calls demand unsustainable, and asserts no material adverse impact on financials or operations. Matter was previously disclosed in IPO prospectus.
Likely market impact
₹14.29 Cr CGST demand upheld; company to appeal at GSTAT. Management says no material adverse impact. Watch appeal outcome.