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CEAT Limited ( (IN:CEATLTD) ) has issued an announcement.
CEAT Limited has disclosed that tax authorities in Delhi have upheld a demand of ₹0.35 crore for the financial year 2020-21, along with an equivalent penalty and applicable interest, over alleged wrongful availment and utilisation of input tax credit under the Goods and Services Tax framework. The company stated it is considering filing an appeal against the order and does not expect any material impact on its financial position, operations, or other activities, indicating that the liability is manageable relative to its scale and unlikely to alter its broader business outlook.
More about CEAT Limited
CEAT Limited is an Indian tyre manufacturer operating in the automotive components industry, supplying tyres and related products for various vehicle segments in domestic and export markets. The company caters to original equipment manufacturers as well as replacement markets, positioning itself as a key player in the mobility and transportation value chain.
Average Trading Volume: 16,263
Technical Sentiment Signal: Buy
Current Market Cap: 154.9B INR
See more data about CEATLTD stock on TipRanks’ Stock Analysis page.