TVS Supply Chain gets tax order from Bihar State Tax Authority
TVSSCS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.6 pts more than Nifty Microcap 250 and 1.0 pts more than its Logistics Solution Provider peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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TVS Supply Chain Solutions received an order from the Bihar State Tax Authority for FY 2021-22 alleging excess availment of input tax credit and short payment of tax liability. Total demand: tax about Rs 2.44 crore, interest about Rs 1.60 crore, and penalty about Rs 25 lakh, totalling roughly Rs 4.3 crore. The company says this will not materially impact its financials or operations and plans to file an appeal within the prescribed timelines.
Minor demand of about Rs 4.3 crore. Company says not material and will appeal. Likely limited impact on the stock price.