GST demand of about Rs 1.11 crore on subsidiary Prabal Motors

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Nifty Microcap 250market · in no size index; the smallest one is used-0.9%+1.8% vs market

Automobiles peers, median of 17sector · industry level-0.5%+1.3% vs sector

On the reaction day the stock moved 1.8 pts more than Nifty Microcap 250 and 1.3 pts more than its Automobiles peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Popular Vehicles and Services informed exchanges that its subsidiary Prabal Motors received a GST demand order from the Coimbatore-IV Division for FY 2021-22. The order alleges excess Input Tax Credit claim of Rs 1,00,83,198, with interest till payment and a penalty of Rs 10,08,020. The company says there is no financial impact on the listed entity other than this demand on the subsidiary.

Likely market impact

Minor hit on subsidiary of about Rs 1.11 crore plus interest; company says no material impact on the listed entity itself.