GST show cause notice, about 2.24 crore tax demand on Raghuvir Synthetics

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₹95.35

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Nifty Microcap 250market · in no size index; the smallest one is used+0.3%+0.2% vs market

Other Textile Products peers, median of 193sector-0.2%+0.7% vs sector

On the reaction day the stock moved 0.2 pts more than Nifty Microcap 250 and 0.7 pts more than its Other Textile Products 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

Raghuvir Synthetics received a Show Cause Notice from the Directorate General of GST Intelligence, Ahmedabad, alleging wrongful availment and use of Input Tax Credit for FY 2020-21 to FY 2024-25. The demand totals about Rs 2,24,20,454 covering tax, interest and penalty. The company says ITC was correctly claimed under GST law and will submit a response. No material impact on operations is expected.

Likely market impact

About 2.24 crore tax demand is pending; company is contesting, says no material impact on operations or financials.