India, April 23 -- WEP Solutions Ltd has informed the stock exchanges, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that it has received a communication and demand order from the tax authorities in Chandigarh.
According to the company, the order was issued by the Joint Commissioner of Commercial Taxes – Appeals-1, Bengaluru, relating to an appeal against a demand cum penalty notice for the financial year 2017–18. The demand includes GST of Rs 18,65,650, interest of Rs 17,21,404, and a penalty amounting to Rs 1,86,565.
The notice alleges that the company short-paid taxes and wrongly availed input tax credit. The communication was officially received on April 2...