GST show cause notice to WeWork India over Rs 11 crore ITC claim for FY21-23

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WEWORK · 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

-1.9%Reaction day

₹663.00

prior close

₹656.40

announcement price

After-mkt

timing

Nifty Microcap 250market+0.0%-1.9% vs market

Diversified Commercial Services peers, median of 80sector-0.0%-1.8% vs sector

On the reaction day the stock moved 1.9 pts less than Nifty Microcap 250 and 1.8 pts less than its Diversified Commercial 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

+0.4

10m

+0.4

15m

+0.5

30m

+0.1

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.9+0.0-1.9-0.0-1.8

Next day

+0.0+1.3-1.3-0.4+0.4

+1.7+1.1+0.6-0.6+2.3

+1.2-1.7+2.9-1.6+2.9

+0.8-1.4+2.2-1.5+2.3

+0.5-0.6+1.1-1.1+1.6

+2.6+0.3+2.3+0.0+2.6

15d

-4.8-6.1+1.3-3.8-1.0

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UpDownMarket · Nifty Microcap 250Sector · Diversified Commercial Services peers, median of 80Pending

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

AI summary

WeWork India received a GST show cause cum demand notice from CGST Mumbai East for April 2021 to March 2023, alleging excess Input Tax Credit (ITC) of about Rs 11 crore, split as Rs 5.96 crore IGST, Rs 2.53 crore CGST, and Rs 2.53 crore SGST. The notice also seeks applicable interest and penalty. The company plans to file a detailed response within statutory timelines and says it sees no material impact at this stage.

Likely market impact

Not a final order yet. A demand of about Rs 11 crore plus interest and penalty could hurt earnings if upheld after the company's reply.