Central GST penalty of Rs 49.53 lakh; company plans appeal

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On the reaction day the stock moved 0.8 pts less than Nifty Microcap 250 and 0.6 pts less than its Sugar 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

The Central GST Commissioner in Kutch imposed a penalty of Rs 49,53,224 for allegedly wrongly claiming and using input tax credit. The order was received on 17 September 2025. The company plans to appeal before the tax appellate tribunal and says there will be no significant impact on its finances or operations.

Likely market impact

The penalty could weigh on profit if the appeal fails, but the company expects no significant financial or operational impact.