Skipper Limited gets GST show cause notice for about Rs 227 crore

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SKIPPER · price

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Price reactionminutes from the announcement price · days from the prior close

-1.6%Reaction day

₹543.90

prior close

₹543.00

announcement price

After-mkt

timing

Nifty Microcap 250market+0.0%-1.6% vs market

Heavy Electrical Equipment peers, median of 34sector+0.1%-1.7% vs sector

On the reaction day the stock moved 1.6 pts less than Nifty Microcap 250 and 1.7 pts less than its Heavy Electrical Equipment 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

+0.8

10m

+0.6

15m

+1.4

30m

+0.7

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.6+0.0-1.6+0.1-1.7

Next day

+1.4+1.3+0.1+1.3+0.1

-0.6+1.1-1.7+0.9-1.5

-4.9-1.7-3.2-2.0-3.0

-2.0-1.4-0.6-2.0+0.0

-2.0-0.6-1.4-1.3-0.7

-2.9+0.3-3.2+0.8-3.7

15d

-6.4-6.1-0.3-6.1-0.3

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UpDownMarket · Nifty Microcap 250Sector · Heavy Electrical Equipment peers, median of 34Pending

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

AI summary

The Odisha State Tax (GST) authority has issued a show cause notice to Skipper Limited proposing a tax demand of about Rs 227.53 crore over mismatches between GSTR-1, GSTR-2A, and GSTR-3B returns. The company says the demand is based on erroneous findings and incorrect appreciation of facts and law. Skipper denies liability and plans to take all available legal remedies to contest the notice. It states there is no material impact on its financial position or operations at this stage.

Likely market impact

A contested tax demand of about Rs 227.53 crore; no immediate financial hit but uncertainty until resolved.