Orient Electric gets Rs 5.73 cr GST demand order, to appeal

Regulatory & Legal View source PDF Explain this filing

ORIENTELEC · price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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

-1.4%Reaction day

₹213.01

prior close

₹212.90

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.1%-1.3% vs market

Household Appliances peers, median of 22sector+0.4%-1.8% vs sector

On the reaction day the stock moved 1.3 pts less than Nifty Microcap 250 and 1.8 pts less than its Household Appliances 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

-1.2

10m

-1.4

15m

-1.8

30m

-1.6

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.4-0.1-1.3+0.4-1.8

Next day

-4.4+0.5-4.9+0.2-4.6

-6.1-0.3-5.8-0.3-5.8

-11.7-0.5-11.3-0.8-11.0

-13.6-0.8-12.8-1.4-12.2

-14.5-2.3-12.2-1.8-12.8

-6.4-2.8-3.6-2.8-3.6

15d

-15.6-4.9-10.7-5.7-9.9

-14.7-4.7-10.0-6.7-8.0

-23.5-7.7-15.7-14.1-9.3

-17.9-7.8-10.1-8.7-9.2

UpDownMarket · Nifty Microcap 250Sector · Household Appliances peers, median of 22Pending

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

AI summary

Orient Electric received a GST demand order of Rs 5.73 crore (Rs 2.87 cr tax plus Rs 2.87 cr penalty) plus interest from the Amravati CGST office. The demand covers FY2018-19 to FY2022-23, alleging short GST payment due to wrong HSN classification of LED goods under Section 74 of the CGST Act. The company says there is no material financial impact and will file an appeal.

Likely market impact

Modest tax demand with no material financial impact expected. Company plans to contest, so no immediate hit to shareholders.