PSP Projects receives GST order imposing penalty of about 26.7 lakhs for FY2018-19

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PSPPROJECT · price

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

+2.2%Reaction day

₹848.10

prior close

₹861.20

announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+1.3%+1.0% vs market

Civil Construction peers, median of 96sector+1.2%+1.1% vs sector

On the reaction day the stock moved 1.0 pts more than Nifty Microcap 250 and 1.1 pts more than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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UpDownMarket · Nifty Microcap 250Sector · Civil Construction peers, median of 96Pending

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AI summary

PSP Projects got a GST order from the State Tax Officer, Ahmedabad for FY 2018-19, imposing a penalty of about 26.7 lakhs under Section 74. The order alleges the company claimed ineligible Input Tax Credit from cancelled and non-genuine taxpayers. The company says there is no material impact on financials or operations and is filing an appeal.

Likely market impact

Minor penalty of about 26.7 lakhs; company says no material impact and plans to appeal.