Tax demand of about Rs 39.84 crore from CGST authority in Ranchi

Litigation lossRegulatory & Legal View source PDF Explain this filing

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

-1.5%Reaction day

₹15500.00

prior close

₹15569.00

announcement price

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Nifty Smallcap 250market · index membership as recorded later (tracked since Jun 2026)+1.0%-2.5% vs market

Auto Components & Equipments peers, median of 110sector+1.1%-2.6% vs sector

On the reaction day the stock moved 2.5 pts less than Nifty Smallcap 250 and 2.6 pts less than its Auto Components & Equipments 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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Reaction day

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Next day

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UpDownMarket · Nifty Smallcap 250Sector · Auto Components & Equipments peers, median of 110Pending

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AI summary

ZF Commercial Vehicle Control Systems India (formerly WABCO India) received an order from the Additional Commissioner, CGST and Central Excise, Ranchi on Dec 18, 2025. The order imposes a demand of Rs 39.84 crore plus applicable interest and an equal penalty of Rs 39.84 crore. The issue relates to alleged incorrect GST classification of electronic control units for anti-lock braking systems. Company says there is no material impact and will file an appeal.

Likely market impact

Adverse tax order with Rs 39.84 crore demand plus equal penalty; company will appeal and claims no material impact on operations.