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Awaiting price reaction for this filing.
WEP Solutions has received a demand order from the Assistant Commissioner/GSTO, Delhi for excess availment of input tax credit in FY 2021-22. The total demand is approximately Rs 1.13 lakh, comprising GST of Rs 43,572, interest of Rs 29,287, and penalty of Rs 40,000. The company has stated there is no material impact on its financials, operations, or other activities. WEP Solutions intends to file an appeal against this order before the Customs, Excise and Service Tax Appellate Tribunal (CESTAT).
The demand amount is small relative to the company and management has confirmed no material financial impact, so this is unlikely to affect the stock price meaningfully. Shareholders should note the ongoing appeal process, though the outcome is uncertain.