The Company has received an Intimation in Form GST DRC-01A, Intimation of tax ascertained as being payable under Section 73(5)/74(5) from the Assistant Commissioner of State Tax , Gujarat ....
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Solarium Green Energy Ltd has received an intimation in Form GST DRC-01A from the Assistant Commissioner of State Tax, Gujarat, demanding Rs. 78,18,209 (about Rs. 78.18 lakhs) towards tax, interest, and penalty under Section 73(5) of the CGST Act, 2017. The demand pertains to the scrutiny assessment for FY 2021-22 and relates to alleged short payment of tax and excess Input Tax Credit (ITC) availed by the company. The demand was raised in the name of Solarium Green Energy LLP, the company's former legal entity status. The company received this intimation on May 20, 2025, and is preparing its reply within the prescribed timeframe. Management believes the entire amount may not be payable and expects a favourable outcome.
The company states there is currently no impact on its financial operations or activities. However, if the demand is upheld after the response process, it could result in an outgo of up to Rs. 78.18 lakhs. Investors should watch for updates on the final order, though the amount is relatively small compared to typical corporate scales.