GST demand of ₹141.06 crore received for FY 2021-22

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Food Products peers, median of 79sector · industry level-0.3%+1.4% vs sector

On the reaction day the stock moved 0.8 pts more than Nifty Microcap 250 and 1.4 pts more than its Food Products 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

Mukka Proteins received a GST demand notice from the Porbandar tax officer for FY 2021-22, citing turnover mismatches, short GST payment, excess or ineligible input tax credit and late filing. The total demand is ₹141.06 crore, including ₹77.78 crore tax, ₹55.50 crore interest and ₹7.78 crore penalty. The company disputes the demand and is evaluating an appeal.

Likely market impact

Shareholders face uncertainty over the ₹141.06 crore demand, but the company expects no financial or operational impact and is considering an appeal.