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The latest announcement is out from Craftsman Automation Ltd. ( (IN:CRAFTSMAN) ).
Craftsman Automation Limited has disclosed that the Commissioner (Appeals), Gurugram has upheld a goods and services tax (GST) demand of Rs 962.89 lakh along with an equal amount of penalty, arising from a dispute over the valuation of consideration for certain services and related processes during the period 2017-18 to 2023-24. The company, which maintains it has consistently complied with applicable GST requirements, plans to challenge the order in a higher forum and has stated that it does not expect any material impact on its financials, operations or other activities from this development, suggesting limited immediate risk for stakeholders despite the sizeable tax and penalty exposure.
More about Craftsman Automation Ltd.
Craftsman Automation Limited is an India-based engineering company headquartered in Coimbatore, Tamil Nadu, operating in the manufacturing and industrial automation space. The company provides engineered products and services, with a focus on precision manufacturing and automation solutions for domestic and global customers across sectors such as automotive and industrial engineering.
Average Trading Volume: 9,741
Technical Sentiment Signal: Buy
Current Market Cap: 187.3B INR
Learn more about CRAFTSMAN stock on TipRanks’ Stock Analysis page.