WEP Solutions Ltd Receives Favorable Appellate Order from CESTAT, Bangalore
WEP Solutions Ltd announced that it has received a favorable order from the Customs, Central Excise and Service Tax Appellate Tribunal, Bangalore (CESTAT), concerning an appeal related to service tax demands.The appellate order, received on May 13, 2026, addresses a dispute over service tax levied for the period spanning April 2011 to June 2012, categorized under the supply of tangible goods. The CESTAT order set aside the entire demand, which included a service tax amount of Rs 4,25,14,108, along with applicable interest and penalty.
The original controversy related to a demand for Service tax under the supply of tangible goods, specifically pertaining to managed printing services.
The Company provided the following details regarding the outcome and the nature of the original dispute:
| Detail Category | Description |
|---|---|
| Authority | Customs, Central Excise & Service Tax Appellate Tribunal, Bangalore |
| Period Covered | April 2011 to June 2012 |
| Original Demand Basis | Service tax on managed printing services (Supply of Tangible Goods) |
| Appellate Outcome | Set aside entire demand, including service tax of Rs 4,25,14,108, interest, and penalty. |
| Date of Communication | May 13, 2026 |
WEP Solutions Ltd confirmed that the favorable order will have no impact on the financial, operational, or other activities of the listed entity. The amount that was the subject matter of the appellate order is currently shown as a contingent liability in the Company's financial statements.
Stock Price Movement
As of 11:41, WEP Solutions Ltd shares are dropping sharply, trading at ₹24.43, which marks a 4.98% decline for the day. The stock has pulled back significantly, dipping to its intraday low of ₹24.43 from a high of ₹25.60.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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