Welspun gets tax demand of Rs 1.79 bn

Gujarat government’s tax department has slapped a demand of Rs 1.79 billion on Welspun Corp for two financial year — 2009-10 and 2010-11, the company said in a regulatory filing.

 

Welspun Corp, flagship firm of Welspun Group, said it will appeal against the tax demand at the appropriate judicial forums. “The company has received orders along with demand from the Joint Commissioner (Appeal) — GVAT, Rajkot for the financial years 2009-2010 and 2010-2011 for an amount of Rs 1.79 billion which includes tax amount of Rs 467.8 million and interest and penalty amount of Rs 1.32 billion,” Welspun Corp said.