Nucleus Software gets GST show cause notice for FY23, demand Rs 17.49 cr

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NUCLEUS · price

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

-1.5%Reaction day

₹658.00

prior close

₹647.70

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used-0.3%-1.3% vs market

Software Products peers, median of 39sector+0.0%-1.5% vs sector

On the reaction day the stock moved 1.3 pts less than Nifty Microcap 250 and 1.5 pts less than its Software 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

Stock

+1.4

10m

+1.8

15m

+1.7

30m

+0.7

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.5-0.3-1.3+0.0-1.5

Next day

-1.4-1.5+0.2-0.5-0.8

-3.0-1.5-1.5-1.5-1.5

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-7.3-3.2-4.1-2.6-4.7

-4.0-2.2-1.9-2.0-2.0

15d

-1.9-9.5+7.5-9.7+7.7

-0.3pendingpending-7.7+7.4

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UpDownMarket · Nifty Microcap 250Sector · Software Products peers, median of 39Pending

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

AI summary

Nucleus Software Exports received a show cause notice from the GST Department in Uttar Pradesh for FY 2022-23. The notice raises a demand of Rs 17.49 crore, including Rs 6.92 crore interest and Rs 0.96 crore penalty, over credit notes issued and input tax credit claims under reverse charge. The company says there is no impact on its finances or operations and will defend the matter before authorities.

Likely market impact

Tax demand of Rs 17.49 cr is at notice stage, not a final order. Company will contest; outcome depends on the hearing.