WeWork India Receives Order Regarding Input Tax Credit Allegations
WeWork India Management Limited received an Order-in-Original from the Additional Commissioner, CGST Gurugram Commissionerate, Gurugram, under the Central Goods and Services Tax Act, 2017, the Haryana Goods and Services Tax Act, 2017, and the Integrated Goods and Services Tax Act, 2017. The order pertains to the period from April 2019 to March 2023 and concerns alleged excess availment and utilization of Input Tax Credit (ITC).The Order details the following financial implications:
| Particulars | Details |
|---|---|
| IGST Demand | ₹ 1,37,07,208 |
| CGST Demand | ₹ 6,03,32,708 |
| SGST Demand | ₹ 6,03,32,708 |
| IGST Penalty | ₹ 1,37,07,208 |
| CGST Penalty | ₹ 6,03,32,708 |
| SGST Penalty | ₹ 6,03,32,708 |
According to the company, the Order was issued without adequately considering the merits of the case. WeWork India plans to appeal the Order before the Commissioner (Appeals), CGST Gurugram, within the prescribed timelines. The company does not currently anticipate a material impact on its financials, operations, or other activities as a result of this Order.
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