Craftsman Automation has been served an order by the Deputy Commissioner (DC), CGST Faridabad, dated March 30, 2026, pertaining to the Financial Year 2019-20. The order demands Rs. 11,07,211/- as tax and penalty for inadmissible Input Tax Credit (ITC), plus an additional interest demand of Rs. 40,74,968/-. The company is evaluating the order but currently foresees no material impact on its financials or operations.
Tax Assessment Order Received
Craftsman Automation Limited hereby informs the stock exchanges regarding an order issued by the Deputy Commissioner (DC), Division-West, CGST Faridabad. The order, dated March 30, 2026, addresses the Financial Year 2019-20 under Section 74 of the Central Goods and Services Tax Act, 2017.
Details of the Financial Demand
The assessment has resulted in two primary financial demands:
- A demand of Rs. 11,07,211/-, which includes applicable interest and a penalty equivalent to the tax amount, concerning purported inadmissible Input Tax Credit (ITC).
- An additional interest demand amounting to Rs. 40,74,968/- on account of purported wrongful availment and utilization of ITC for the same financial year.
Company Response and Outlook
The Company confirms that it is actively evaluating the implications of this order. Appropriate steps, including the filing of an appeal, will be taken as deemed necessary. Crucially, Craftsman Automation states that it does not foresee any material impact on the company’s financials, operations, or other activities resulting from this specific demand.
The management believes the demand is not sustainable and intends to pursue necessary legal recourse against the order.
Source: BSE
