GST show cause notice worth Rs 17.53 crore from tax department

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TVSSRICHAK · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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

-1.5%Reaction day

₹4483.00

prior close

₹4434.50

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+1.0%-2.5% vs market

Tyres & Rubber Products peers, median of 15sector-0.5%-0.9% vs sector

On the reaction day the stock moved 2.5 pts less than Nifty Microcap 250 and 0.9 pts less than its Tyres & Rubber Products 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

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15m

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30m

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Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.5+1.0-2.5-0.5-0.9

Next day

-1.3+0.8-2.0-0.2-1.0

-3.0-0.5-2.4+0.2-3.1

-2.4-0.5-1.9+0.3-2.7

-2.4+0.8-3.2+0.3-2.7

-3.1+0.5-3.6-0.0-3.0

-2.3-2.0-0.3-0.9-1.4

15d

-9.6-6.4-3.2-2.6-7.0

-7.4-5.9-1.5-4.2-3.2

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UpDownMarket · Nifty Microcap 250Sector · Tyres & Rubber Products peers, median of 15Pending

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

AI summary

TVS Srichakra received a GST show cause notice from the Deputy Commissioner of State Tax, Bhiwandi, Mumbai for FY 2022-23. The notice alleges excess availment of Input Tax Credit in GSTR-3B versus GSTR-2B. Total proposed demand is about Rs 17.53 crore, comprising tax of Rs 8.05 crore, interest of Rs 7.78 crore and penalty of Rs 1.70 crore. No final order has been passed. The company is evaluating the matter and plans to file a detailed response, citing valid grounds.

Likely market impact

A potential tax demand of Rs 17.53 crore is at stake. Matter is at notice stage with no final order. Company plans to contest, creating a near-term overhang.