Craftsman Automation Limited — Others, 04-01-2025: Action(s) taken or orders passed

Craftsman Automation Limited has reported that the Joint Commissioner of CGST, Faridabad, issued an order with a tax demand of ₹9.63 crore, plus penalties totaling ₹9.64 crore, concerning the valuation of machining services from FY 2017-18 to FY 2023-24. The company maintains that it has fulfilled all tax obligations and views the order as unjustified, planning to appeal. Management does not expect any significant impact on financial or operational aspects. This announcement could indicate a positive outlook, as the company asserts that it is addressing the matter without anticipated material repercussions on its operations.