Nestle India gets partial relief in GST appeal, reduced tax demand of Rs 1.3 crore

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

-0.5%Reaction day

₹1393.00

prior close

₹1396.80

announcement price

After-mkt

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Nifty 100market+0.1%-0.6% vs market

Packaged Foods peers, median of 36sector-0.7%+0.2% vs sector

On the reaction day the stock moved 0.6 pts less than Nifty 100 and 0.2 pts more than its Packaged Foods peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

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UpDownMarket · Nifty 100Sector · Packaged Foods peers, median of 36Pending

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AI summary

Nestle India received an Order-in-Appeal from the GST Appellate Authority in Chennai for FY 2017-20. The appeal was partially allowed, reducing the original tax demand. Confirmed tax liability of about Rs 1.30 crore under CGST/SGST, plus applicable interest, and a reduced penalty of about Rs 13 lakh. Company states no material financial impact and will explore further legal options to challenge the order.

Likely market impact

Minimal financial impact as tax demand was reduced in appeal. Company may pursue further legal recourse. Watch for any escalation in the dispute.