CGST order reduces penalty from Rs 36 cr to Rs 7.6 cr

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

-0.7%Reaction day

₹43.00

prior close

₹43.40

announcement price

After-mkt

timing

Nifty Smallcap 250market-0.4%-0.3% vs market

Telecom - Cellular & Fixed line services peers, median of 7sector-1.3%+0.6% vs sector

On the reaction day the stock moved 0.3 pts less than Nifty Smallcap 250 and 0.6 pts more than its Telecom - Cellular & Fixed line services 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

-0.5

10m

-0.8

15m

-0.9

30m

-0.9

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-0.7-0.4-0.3-1.3+0.6

Next day

-2.3-0.9-1.4-1.8-0.5

-0.9-0.4-0.6-2.2+1.3

+0.2+0.1+0.1-1.9+2.1

+0.1+1.1-1.0-1.5+1.7

-0.7+1.2-1.9-1.7+1.0

-2.9+0.9-3.9-4.1+1.2

15d

-6.6+1.2-7.9-4.1-2.5

-8.3+0.2-8.5-3.6-4.7

-12.7+3.2-15.8-4.9-7.8

-19.8+2.1-21.9-2.6-17.3

UpDownMarket · Nifty Smallcap 250Sector · Telecom - Cellular & Fixed line services peers, median of 7Pending

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

AI summary

Tata Teleservices (Maharashtra) received an order from the CGST and Central Excise Commissionerate, Belapur under Section 73 of the Finance Act, 1994. The order relates to alleged irregular or ineligible Cenvat Credit claims during FY 2009-10 to 2011-12. The penalty was reduced from Rs 36.14 crore to Rs 7.57 crore, along with applicable tax and interest. The company disagrees with the order and will take appropriate legal action to contest it.

Likely market impact

Reduced penalty of about Rs 7.57 crore plus tax and interest; company will contest, so final financial impact is uncertain but materially lower than original demand.