Announced Mon, 26 Oct, 2026 · 16:40 IST

GST authority orders Rs 9.20 crore tax demand plus penalty

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Nifty Microcap 250market · in no size index; the smallest one is usedpendingvs market: pending

Other Textile Products peers, median of 191sector+0.5%+3.0% vs sector

By the next day the stock moved 3.0 pts more than its Other Textile Products 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 · Other Textile Products peers, median of 191Pending

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AI summary

The GST authority in Surat has confirmed a demand of Rs 9.20 crore for ineligible input tax credit. The order, received on October 25, 2026, also carries interest and a penalty of Rs 9.20 crore. The company is reviewing the order and plans to contest the demand.

Likely market impact

If upheld, the tax and penalty could total Rs 18.40 crore plus interest, creating a large cash liability and likely near-term stock pressure.