ACME Solar Holdings Ltd. Receives Show-Cause Notice Regarding GST Demand
Mumbai – March 29, 2026 – ACME Solar Holdings Ltd. (BSE: 544283, NSE: ACMESOLAR) announced today that it has received a Show-Cause cum Demand Notice (SCN) dated March 23, 2026, from the Office of the Directorate General of Goods & Services Tax Intelligence in Jaipur, Rajasthan.The notice, received on March 28, 2026, alleges a short payment of Goods and Services Tax (GST) related to the supply of goods and services connected to solar power generating systems. The alleged GST demand aggregates to approximately Rs. 149.73 Crores for the period April 2021 to March 2025, along with applicable interest and penalty.
ACME Solar Holdings Ltd. is currently reviewing the SCN with its tax and legal advisors and intends to contest the matter before appropriate forums. The company stated it does not expect any immediate financial or operational impact from the notice. The company noted that similar notices have been issued to other renewable energy companies and are being contested in various judicial forums.
Below is a summary of the details as outlined in the notice:
| Particular | Details | |
|---|---|---|
| 1 | Brief details of litigation | SCN received from the Director General of Goods and Service Tax Intelligence ( DGGI ), Zonal Unit Jaipur, issued under the CGST Act, 2017 and RGST Act, 2017, alleging short payment of GST on supply of goods and services related to solar power generating system. |
| 2 | Expected financial implications | The SCN alleges a GST demand aggregating to approximately Rs. 149.73 Crores for the period April 2021 to March 2025, along with applicable interest and penalty. The Company does not expect any immediate financial or operational impact on account of the SCN. |
| 3 | Quantum of claims | The SCN alleges a GST demand aggregating to approximately Rs. 149.73 Crores for the period April 2021 to March 2025, along with applicable interest and penalty. The Company does not expect any immediate financial or operational impact on account of the SCN. |
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