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ORKLAINDIA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.2 pts less than Nifty Microcap 250 and 0.1 pts more than its Other 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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Orkla India Limited has received a Show Cause Notice (Form GST DRC-01) from the Tamil Nadu Commercial Taxes Department for FY 2023-24 under the TNGST and CGST Acts. The notice proposes a total demand of Rs. 8.41 crore, broken down into a tax demand of Rs. 5.24 crore, interest of Rs. 2.64 crore, and a penalty of Rs. 0.53 crore. The issues raised relate to Input Tax Credit claims, reversal of common ITC, reconciliation of exempt supplies, credit notes, and transactions with related persons. The company is preparing detailed objections with supporting documents to be filed within the stipulated timeline and is also evaluating further legal options.
This is a tax demand notice that the company intends to contest; while the Rs. 8.41 crore exposure is material relative to smaller profit bases, it does not yet constitute a confirmed liability and is unlikely to cause an immediate sharp reaction in the stock, though investors should watch the outcome of the company's objections.