Sasken Technologies loses GST appeal, Rs 10.9 crore demand confirmed

Litigation LossRegulatory & Legal View source PDF Explain this filing

SASKEN · 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

+1.2%Reaction day

₹1755.10

prior close

₹1789.00

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+1.3%-0.0% vs market

IT Enabled Services peers, median of 78sector+0.2%+1.1% vs sector

On the reaction day the stock moved in line with Nifty Microcap 250 and 1.1 pts more than its IT Enabled Services 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

+0.3

10m

+0.2

15m

-0.1

30m

+0.3

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+1.2+1.3-0.0+0.2+1.1

Next day

-1.3-0.2-1.1-0.4-0.9

-3.1+0.1-3.2-0.1-3.0

-5.1-1.5-3.6-1.2-3.8

-5.6-0.5-5.1-2.8-2.8

-4.3-0.8-3.5-2.3-2.0

-4.4-2.0-2.3-3.5-0.9

15d

-6.5-3.4-3.1-3.4-3.1

+2.5-9.9+12.4-9.6+12.1

—————

UpDownMarket · Nifty Microcap 250Sector · IT Enabled Services peers, median of 78Pending

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

AI summary

Sasken Technologies appeal against a GST demand for FY 2021-22 was dismissed by the Joint Commissioner Appeals in Bengaluru under Section 107(1) of the SGST and CGST Acts. The order confirms a total demand of Rs 10.9 crore, comprising Tax Rs 5.87 crore, Interest Rs 4.44 crore and Penalty Rs 0.59 crore. The dispute relates to GST payable under reverse charge on sales by the company overseas branches. The company has stated there is no material impact on its financials or operations.

Likely market impact

Rs 10.9 crore liability confirmed but company says no material financial or operational impact. May explore further legal recourse.