Welspun Enterprises Limited has informed the Exchange regarding 'Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015'.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Welspun Enterprises' subsidiary WSNRPL received 6 Show Cause Notices (SCNs) from Tamil Nadu GST Authority dated May 20, 2026. The notices allege a difference between turnover reported in GSTR-3B and GSTR-7 forms, and alleged excess Input Tax Credit availment totaling Rs. 179.87 crore in tax plus equal penalty. The dispute covers FY 2020-21 to FY 2025-26 (6 years). The company claims the issue arose because the client incorrectly reported GST TDS for a project spanning Tamil Nadu and Puducherry as if entirely in Tamil Nadu. Importantly, a similar earlier notice was already dropped by tax authorities. The company states it has a strong case on merits and does not expect any material financial or operational impact.
While the SCNs propose significant tax and penalty demands of Rs. 359.74 crore total, the company has a prior favorable precedent and believes the demands are without merit. The filing is precautionary disclosure rather than an adverse judgment. No immediate impact on stock expected given the company's confidence and historical resolution of similar issues.