Vikran Engineering gets GST show cause notice for FY23, demand around Rs 3.34 crore

Regulatory & Legal View source PDF Explain this filing

VIKRAN · price

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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

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-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 State Tax office in Jaipur for FY 2022-23 over alleged excess ITC utilization. Tax demand is around Rs 3.34 crore, interest around Rs 2.41 crore, and penalty around Rs 33.41 lakh. The company plans to file detailed objections and says it has a strong case on merits with no material impact expected on finances or operations.

Likely market impact

Total exposure about Rs 6.1 crore with interest and penalty. Company will contest and sees no material impact. Watch for resolution.