Acme Solar Holdings Limited has informed the Exchange about the Receipt of show cause cum demand notice
ACMESOLAR · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Acme Solar Holdings has received a Show Cause cum Demand Notice from the Directorate General of GST Intelligence (DGGI), Jaipur Zonal Unit, alleging short payment of GST on solar power generating system supplies. The notice covers the period April 2021 to March 2025 and demands approximately Rs. 149.73 Crores, along with applicable interest and penalty. The company has stated that similar GST notices have been issued to other renewable energy companies and are being contested across various judicial forums. Acme Solar plans to challenge the notice through its tax and legal advisors before the appropriate authorities.
The demand of ~Rs. 149.73 Crores is material relative to the company, but management has explicitly stated no immediate financial or operational impact is expected since the matter will be contested. Shareholders should monitor legal proceedings and watch for any escalation or adverse ruling, which could create a future overhang on the stock.