Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015- Receipt of Demand Order.
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Awaiting price reaction for this filing.
WEP Solutions has received a demand order from the Joint Commissioner of Commercial Taxes (Appeals-1), Bengaluru concerning FY 2017-18. The tax authority has demanded GST of ₹18.66 lakh, interest of ₹17.21 lakh, and a penalty of ₹1.87 lakh, totalling roughly ₹37.7 lakh, on grounds of short-paid tax and wrongly claimed input tax credit. The order was received on 22 April 2025 and pertains to UT Chandigarh. The company has stated there is no material impact on its financials, operations, or other activities. Total quantum involved is small relative to a typical listed entity.
The aggregate demand of about ₹37.7 lakh is modest and the company itself says there is no material financial impact, so shareholders are unlikely to see meaningful effect on the stock price or operations. However, it does signal an adverse outcome in a tax appeal, which investors may want to track if further escalation occurs.