GST authority order: about INR 3.87 cr demand and penalty
SCHNEIDER · 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 more than Nifty Smallcap 250 and 1.2 pts more than its Heavy Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Schneider Electric Infra received a GST adjudication order for FY2022-23 from Chennai GST authorities. Demands include INR 2.38 cr IGST on export of services, INR 1.06 cr for ineligible ITC, INR 3.80 lakh for SEZ supplies without endorsement, and INR 3.64 lakh for ITC reversal on credit notes. A penalty of about INR 35.18 lakh has been imposed. Total exposure is around INR 3.87 crore. The company says there is no material impact and is evaluating legal remedy.
Modest financial exposure of about INR 3.87 crore. Company plans to challenge the order. No material impact claimed on operations.