Welspun Enterprises Receives GST Show Cause Notice for ₹15.37 Cr

Welspun Enterprises Ltd has received a Show Cause Notice (SCN) from the State GST Authority of Haryana. The notice, issued under Section 73 of the CGST Act, 2017, proposes a tax demand of ₹15,37,46,253/- (₹15.37 Crore) along with applicable interest and penalty. This is on account of alleged short payment of tax or excess availment of Input Tax Credit (ITC). The alleged violations include non-payment to vendors within 180 days and contravention of Section 16 of the CGST Act regarding ITC availment. The company, however, believes the demand is not maintainable and plans to file a detailed reply, expecting the SCNs to be set aside. Welspun Enterprises does not foresee any material impact on its financial or operational activities.