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WELENT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Welspun Enterprises' subsidiary, Welspun Sattanathapuram Nagapattinam Road Private Limited (WSNRPL), received six Show Cause Notices (SCNs) dated May 20, 2026 from the Tamil Nadu State GST Authority under Section 74 of the CGST Act, 2017. The SCNs allege a discrepancy between the turnover WSNRPL reported in Form GSTR-3B versus Form GSTR-7 (GST TDS deduction statement) filed by the client, and alleged excess Input Tax Credit availment. The discrepancy stems from the client reporting GST TDS for the entire project under Tamil Nadu without separately accounting for the portion falling in Puducherry Union Territory. The proposed tax demand is Rs. 179.87 crore with equal interest and penalty. The issue spans FY 2020-21 to FY 2025-26. A similar earlier notice was previously dropped by the tax authorities.
The company believes the demands lack merit and expects them to be set aside, with no material impact on financials or operations. However, the Rs. 179.87 crore tax demand plus interest and penalty represents a notable contingent liability if the SCNs escalate.