GST tax demand of Rs 16.75 lakhs received, company plans to appeal

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

+0.9%Reaction day

₹32.20

prior close

₹32.81

announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.3%+0.6% vs market

IT Enabled Services peers, median of 70sector+0.5%+0.5% vs sector

On the reaction day the stock moved 0.6 pts more than Nifty Microcap 250 and 0.5 pts more than its IT Enabled Services 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

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Next day

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UpDownMarket · Nifty Microcap 250Sector · IT Enabled Services peers, median of 70Pending

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AI summary

Odigma Consultancy received a GST order from the Assistant Commissioner, DGSTO-5 Bengaluru, under Section 73 of the CGST Act. The order raises a demand of Rs 16.75 lakhs (tax of Rs 8.94 lakhs, penalty Rs 6.92 lakhs, interest Rs 0.89 lakhs) for alleged disallowance of Input Tax Credit claims for April 2021 to March 2022. The company says the demand is not sustainable and plans to file an appeal.

Likely market impact

Small one-time demand versus company size; company plans to appeal and expects no material impact on financials or operations.