Waaree Energies Limited Receives Orders Regarding State Tax and GST Assessments
Waaree Energies Limited (NSE: WAAREEENER, BSE: 544277) announced on April 1, 2026, that it received an order from the Joint Commissioner of State Tax, IV Bandra, Mumbai (Appellate Authority), regarding an appeal filed by the company against an audit for the financial years 2017-18 and 2018-19. The appellate order significantly reduced the total demand to ₹23,62,494 and ₹25,86,704, respectively, from the initial amounts of ₹6,95,25,249 and ₹6,02,70,052.Additionally, the Assistant Commissioner of State Tax, Maharashtra issued an assessment order under the Central Goods and Services Tax Act, 2017, the Maharashtra Goods & Services Tax Act, 2017, and the Integrated Goods & Services Tax Act, 2017, for the tax period April 2019 to March 2020, totaling ₹7,52,36,584.
According to the Appellate Authority, the GST demand was upheld during the audit for the financial years 2017-18 and 2018-19. The assessment order revealed that the company had allegedly availed ineligible Input Tax Credit (ITC) and had not cross-charged common Input Tax Credit.
The company stated that these actions are not expected to have a material impact on its financial, operational, or other activities. Waaree Energies Limited is evaluating the matters and will take appropriate steps to address them. The company received notification of the orders at 10:23 A.M. (IST) on Wednesday, April 1, 2026.
| Sr. No. | Particulars | Details |
|---|---|---|
| 1 | Name of the authority. | Joint Commissioner of State Tax, IV Bandra, Mumbai (Appellate Authority) |
| 2 | Nature and details of the action(s) taken, initiated or order(s) passed. | The total demand for the Financial year 2017-18 and 2018-19 has been significantly reduced to ₹23,62,494 and ₹25,86,704 from ₹6,95,25,249 and ₹6,02,70,052, respectively. |
| 3 | Date of receipt of direction or order, including any ad- interim or interim orders, or any other communication from the authority. | Wednesday, April 01, 2026, at 10:23 A.M.(IST) |
| 4 | Details of the violation(s)/ contravention(s) committed or alleged to be committed. | The Appellate Authority has upheld the GST demand raised during audit for financial year 2017-18 and 2018-19. The total demand for the Financial year 2017-18 and 2018-19 has been significantly reduced to ₹23,62,494 and ₹25,86,704 from ₹6,95,25,249 and ₹6,02,70,052, respectively. |
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