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The latest update is out from JTEKT India Limited ( (IN:JTEKTINDIA) ).
JTEKT India Limited has announced that it has received an order from the Commissioner (Appeals), CGST, Gurgaon, allowing the company’s appeal against a substantial GST demand and associated penalty imposed under Section 74 of the CGST Act. The earlier demand of Rs 14.37 crore and penalty of Rs 28.74 crore have been set aside, and the company has clarified that there is no financial impact on its operations as a result of this decision, removing a significant potential liability overhang for the firm and its stakeholders.
More about JTEKT India Limited
JTEKT India Limited operates in the automotive components industry, with manufacturing facilities in Gurugram, Haryana, and a registered office in New Delhi. The company is part of the broader JTEKT group and focuses on supplying steering systems and related components to vehicle manufacturers in India and potentially overseas markets.
Average Trading Volume: 10,352
Technical Sentiment Signal: Buy
Current Market Cap: 40.78B INR
For an in-depth examination of JTEKTINDIA stock, go to TipRanks’ Overview page.