GST penalty of Rs 27.7 lakh from UP tax authority on legacy matter

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SHRIRAMFIN · price

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Nifty 100market · index membership as recorded later (tracked since Jun 2026)-0.1%+0.1% vs market

Non Banking Financial Company (NBFC) peers, median of 205sector-0.4%+0.4% vs sector

On the reaction day the stock moved 0.1 pts more than Nifty 100 and 0.4 pts more than its Non Banking Financial Company (NBFC) 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 100Sector · Non Banking Financial Company (NBFC) peers, median of 205Pending

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AI summary

Shriram Finance received a GST order from the UP State Tax Department dated Dec 16, 2025, levying a penalty of Rs 27.7 lakh. Total tax demand is Rs 2.77 crore, plus interest of Rs 1.89 crore. The order relates to the erstwhile Shriram City Union Finance, merged into Shriram Finance in April 2022. Issues include short GST payment on scrap sales, ineligible input tax credit, and reverse charge non-compliance. The company says there is no material impact and plans to seek advice from its tax consultant to contest the order.

Likely market impact

Penalty is small relative to company size. Company plans to contest. No material impact stated. Watch for appeal outcome.