GST tax demand of Rs 37.81 lakh issued; company plans to appeal

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On the reaction day the stock moved 2.0 pts less than Nifty Microcap 250 and 2.4 pts less than its Dyes And Pigments 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

West Bengal tax authorities issued four GST demand orders totaling Rs 37.81 lakh after audits for FY 2018-19 through FY 2021-22. This includes Rs 11.55 lakh of tax and Rs 26.26 lakh of penalty, with no interest. The company is preparing an appeal and expects no impact on its finances or operations.

Likely market impact

The company expects no financial or operating impact. If its appeal fails, the Rs 37.81 lakh tax and penalty demand could become payable.