Date: September 28, 2026 (date of notice receipt)
Regulatory & Legal Disclosures
Welspun Enterprises Limited has received a Show Cause Notice from the Joint Commissioner of State Tax, Uttar Pradesh (State GST Authority).
Details of the Notice:
- Authority: Joint Commissioner of State Tax, Uttar Pradesh
- Period Covered: Tax Financial Year 2022-23
- Nature of Notice: Show Cause Notice issued under Section 74 of the CGST Act, 2017/UPGST Act, 2017
- Financial Demand: Proposed imposition of tax of approximately ₹71.24 Crore
- Additional Liabilities: Applicable interest under Section 50 of CGST Act/UPGST Act and penalty under Section 74 of CGST Act/UPGST Act
- Allegations: Short payment of tax / excess availment of Input Tax Credit (ITC)
- Date of Notice: September 26, 2026
- Date of Receipt: September 28, 2026
Specific Contraventions Alleged:
- GST applicability on certain other expenses/other income recorded in financial statements
- Alleged availment of ITC on certain supplies in violation of Section 16 of CGST Act/UPGST Act, 2017
Company's Response and Assessment:
- The company believes the demand is not maintainable
- Preparing to file a detailed reply against the Show Cause Notice
- Company view: The demand raised is without merits and expected to be set aside during adjudication proceedings
- No material impact foreseen on financial, operational or other activities of the Company
Disclosure Context:
This disclosure is made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, pursuant to SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.