WEP Solutions Ltd has informed the stock exchanges, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that it has received a communication and demand order from the tax authorities in Chandigarh.
According to the company, the order was issued by the Joint Commissioner of Commercial Taxes – Appeals-1, Bengaluru, relating to an appeal against a demand cum penalty notice for the financial year 2017–18. The demand includes GST of Rs 18,65,650, interest of Rs 17,21,404, and a penalty amounting to Rs 1,86,565.
The notice alleges that the company short-paid taxes and wrongly availed input tax credit. The communication was officially received on April 22, 2025.
Despite the demand, WEP Solutions has clarified that there will be no material impact on its financials, operations, or other business activities.