GST show cause notice quashed, nil liability for Zodiac Energy

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ZODIAC · 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

-0.1%Reaction day

₹300.00

prior close

₹299.85

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.5%+0.5% vs market

Civil Construction peers, median of 97sector-0.6%+0.6% vs sector

On the reaction day the stock moved 0.5 pts more than Nifty Microcap 250 and 0.6 pts more 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

+0.6

10m

+0.5

15m

+1.0

30m

+1.2

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-0.1-0.5+0.5-0.6+0.6

Next day

-2.7-1.3-1.4-1.6-1.0

-1.8-1.4-0.5-2.2+0.4

+1.2+0.0+1.1-1.2+2.4

+1.0+0.2+0.8-1.2+2.2

+2.0+1.2+0.8-0.3+2.3

-1.3+0.8-2.1-2.2+0.9

15d

-12.2-5.1-7.1-7.3-4.9

-17.0-8.8-8.2-12.8-4.2

-18.9-4.5-14.4-10.9-8.0

-25.6-13.7-11.9-23.6-2.0

UpDownMarket · Nifty Microcap 250Sector · Civil Construction peers, median of 97Pending

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

AI summary

Zodiac Energy received a GST show cause notice in September 2025 from the Gujarat State Tax department over alleged discrepancies in GST returns and input tax credit claims for FY 2021-22. On December 22, 2025, the Assistant Commissioner of State Tax (Ahmedabad) quashed the notice and passed an order with nil demand and nil liability. The company confirms there is no financial, operational, or other impact.

Likely market impact

Positive outcome: the tax demand is fully dismissed with no financial impact on the company.