GST show cause notice for FY23 with Rs 7.8 crore demand

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VIKRAN · 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

-2.5%Reaction day

₹60.78

prior close

₹60.33

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.3%-2.2% vs market

Civil Construction peers, median of 102sector+0.0%-2.5% vs sector

On the reaction day the stock moved 2.2 pts less than Nifty Microcap 250 and 2.5 pts less than its Civil Construction 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

+2.2

10m

+2.2

15m

+1.4

30m

+1.0

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-2.5-0.3-2.2+0.0-2.5

Next day

-3.8-1.5-2.2-0.9-2.9

-6.0-1.5-4.5-1.5-4.5

-4.4-0.2-4.2-0.9-3.5

-4.7-0.5-4.2-0.5-4.1

-6.0-3.2-2.7-2.8-3.2

-8.2-2.2-6.0-1.9-6.3

15d

-13.6-9.5-4.2-9.1-4.5

-13.2pendingpending-7.4-5.8

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UpDownMarket · Nifty Microcap 250Sector · Civil Construction peers, median of 102Pending

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

AI summary

Vikran Engineering received a GST Show Cause Notice from the Jaipur State Tax office covering FY 2022-23. The notice cites a GST TDS Turnover Mismatch. Demand is Rs 4.51 crore in tax, Rs 2.84 crore in interest, and Rs 45.08 lakh in penalty, about Rs 7.8 crore in total. The company says it foresees no material impact and will file detailed objections, claiming it has a strong case on merits.

Likely market impact

This is a notice, not a final order. Company plans to contest and states no material financial or operational impact.