Waterbase523660Tax or GST

Waterbase intimates State tax demand orders for FY 2022-23 and FY 2023-24 on product re-classification

Waterbase disclosed State tax demand orders on product re-classification.

By ScoutQuest · Sat 24 Oct 2026, 7:50 PM IST · 2 min read

Rs. 61,28,611/--40.4%

FY2022-23Rs. 1,02,83,878/-FY2023-24Rs. 61,28,611/-

Applicable interest: Rs. 1,02,83,878/- (FY2022-23) and Rs. 61,28,611/- (FY2023-24).

FY23 tax demand: tax ~Rs. 1.63 crore, interest ~Rs. 1.03 crore, penalty ~Rs. 16.3 lakh
FY24 tax demand: tax Rs. 1,36,41,562/-, interest ~Rs. 61.29 lakh, penalty ~Rs. 13.64 lakh
Ground for demand: re-classification of certain products; orders under Section 73 of APGST, CGST and IGST Acts, 2017

What the company informed

The Waterbase Limited submitted a disclosure about orders passed by the Deputy Commissioner (ST), Nellore – Department of State Taxes. The orders intimate tax ascertained as payable under Section 73 of the APGST, CGST and IGST Acts, 2017. The company states the notice came to its knowledge on 24.10.2026.

The amounts stated in the orders

FY 2022-23: tax liability of ~Rs. 1.63 crore, along with an applicable interest of ~Rs. 1.03 crore and a penalty of ~Rs. 16.3 lakh.
FY 2023-24: tax liability of Rs. 1,36,41,562/-, along with an applicable interest of ~Rs. 61.29 lakh and a penalty of ~Rs. 13.64 lakh.

Why the demand was raised

The stated ground, per the disclosure, is the re-classification of certain products for the two financial years. In simple terms, the tax department has taken a different view of how some products should be classified, and on that basis has worked out tax, interest and penalty that it says is payable.

What the company says about the impact

There is no material impact on financials.
There is no impact on operation or other activities of the company due to the intimation of tax payable.
The orders are currently appealable, and the company will file the appeal before the respective authorities.

How a retail investor can read this

This is a tax demand notice, not a confirmation that the amount has been paid or finally upheld. The figures above are what the department has determined, including interest and penalty. The company has said it will challenge them, so the amounts actually payable, if any, would depend on how the appeal is decided. The company's own stated position on financial and operational impact is in the bullets above, and the outcome of the appeal is the key thing to track.