Nuvama Subsidiary Receives ₹1.72 Crore Tax Order; No Financial Impact
Nuvama Wealth Management Limited has informed the exchanges about an order passed by the Assistant Commissioner of State Tax, Delhi, concerning its wholly-owned material subsidiary, Nuvama Wealth and ...
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Why is Nuvama Wealth Management Limited in the news today?
Nuvama Wealth Management Limited (NUVAMA) is in the news due to the announcement details a tax demand order against a subsidiary, which could be perceived negatively. however, the company has stated there is no financial impact and plans to appeal, mitigating the negative sentiment. therefore, the sentiment is neutral.
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Nuvama Subsidiary Receives ₹1.72 Crore Tax Order; No Financial Impact
December 28, 2025, 08:16 AM
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Nuvama Wealth Management Limited has informed the exchanges about an order passed by the Assistant Commissioner of State Tax, Delhi, concerning its wholly-owned material subsidiary, Nuvama Wealth and Investment Limited (NWIL).
The order, received on December 27, 2025, relates to the period of April 2021 to March 2022. NWIL has been issued a demand for ₹97,19,500 towards tax, ₹65,37,894 as interest, and ₹9,71,950 as penalty. These charges stem from issues such as excess Input Tax Credit (ITC) claimed in GSTR-3B compared to GSTR-2A, mismatches between GSTR-1 and GSTR-9, and other ITC-related matters.
NWIL intends to file an appeal with the Appellate Authority regarding this order. The company has explicitly stated that there is no impact on the financials, operations, or other activities of Nuvama Wealth Management Limited or its subsidiaries and associates due to this order.
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