Sterling Tools receives GST tax demand of Rs 78.71 lakh

Regulatory & Legal View source PDF Explain this filing

STERTOOLS · price

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

-1.3%Reaction day

₹337.00

prior close

₹336.25

announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used-0.1%-1.2% vs market

Auto Components & Equipments peers, median of 107sector-0.4%-1.0% vs sector

On the reaction day the stock moved 1.2 pts less than Nifty Microcap 250 and 1.0 pts less than its Auto Components & Equipments 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 Microcap 250Sector · Auto Components & Equipments peers, median of 107Pending

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

AI summary

The Karnataka commercial tax office alleges that Sterling Tools claimed Rs 78.71 lakh more IGST input tax credit than shown in GSTR-2B. It issued a notice seeking this amount plus interest and penalties. The company plans to respond within the required time and says it has strong factual and legal grounds.

Likely market impact

There is no material impact at present, but the tax demand, interest and penalties could affect earnings and cash flow if upheld.