Sundram Fasteners Ltd

⚠️ Sundram Fasteners Hit with ₹2.7 Crore GST Penalty – Details Inside

- Penalty of ₹2,70,34,224 imposed by tax authorities

- Related to GST non-payment on capital goods sent for job work (not returned within 3 years)

- Also involves non-reversal of ineligible Input Tax Credit (2020-21 to 2022-23)

- Covers financial years 2018-19 through 2022-23

- Company states no material financial impact expected

- May file appeal against the order