VA Tech Wabag Limited has informed the Exchange about Action(s) initiated or orders passed
WABAG · price
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Awaiting price reaction for this filing.
VA Tech Wabag has received an order from the Office of the Superintendent of Central Tax, GST Commissionerate, Bengaluru, following a routine GST compliance audit under Section 65 of the CGST Act, 2017 covering FY 2018-19 to FY 2022-23. The total demand raised is about ₹23.21 lakhs, which includes a basic tax of around ₹4.54 lakhs, interest of about ₹2.42 lakhs, and a penalty of roughly ₹16.25 lakhs. The company has stated it will pursue legal remedies, including filing an appeal with the appropriate authority. Management has clarified that there is no material impact on the company's financial position, operations, or other activities from this order.
The financial impact is minor (about ₹23 lakhs, or ~0.05% of typical revenue scale) and the company is contesting the order through appeal, so near-term effect on shareholders and stock price is likely negligible.