Mumbai: WeWork India Management Ltd on Monday said it has received a GST order raising a tax demand of about ₹15.4 crore, including interest and penalty, from the Central GST Commissionerate, Noida, for alleged ineligible and unreconciled input tax credit (ITC) for FY22 and FY23.
The order, issued under Section 73 of the CGST Act, disallows ITC of ₹6.23 crore for FY22 and ₹1.91 crore for FY23. In addition, the tax authority has levied interest of ₹6.43 crore and imposed penalties aggregating ₹81.44 lakh, according to the company’s regulatory filing.
WeWork India said the demand was issued without considering the merits of its submissions and added that it will file an appeal before the Commissioner of Central GST & Central Excise (Appeals), Noida, within the prescribed timeline. The company said it does not expect any immediate impact on its financials, operations or business activities at this stage.