Craftsman Automation Faces Rs 68.72 Lakh Tax Demand, Equal Penalty and Interest Over Alleged Excess ITC Availment:

Assistant Commissioner of Goods & Services Tax and Central Excise, Division-III, Jamshedpur has served a Rs 68.72 lakh GST demand order along with applicable interest and penalty of equal amount on Craftsman Automation Ltd.

The order dated September 30, 2026, was passed under Section 74 of the Central Goods and Services Tax Act, 2017, and pertains to financial years 2021-22 and 2022-23. The demand for the alleged excess availment of Input Tax Credit (ITC) has been raised by the tax authorities.

The company said it received the order on October 5, 2026 and is currently evaluating its implications. Craftsman Automation said it believes the demand is not sustainable and plans to take appropriate legal action, including filing an appeal.

The company also said it does not expect the order to have any material impact on its financial performance, operations or other activities.

The disclosure was made by Craftsman Automation under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.