ACME Solar Holdings Hit with Rs 149.73 Crore Demand Over Alleged Short Payment of GST

ACME Solar Holdings Limited has disclosed to the Stock Exchange that it has received a Show-Cause cum Demand Notice (SCN), dated March 23, 2026, passed by the Directorate General of Goods and Services Tax Intelligence (DGGI), Jaipur Zonal Unit, Jaipur, Rajasthan, under the CGST Act, 2017, and RGST Act, 2017.

The said notice has imposed an aggregate GST demand amounting to Rs 149.73 crores (along with interest and penalty) on the company for the financial years 2021-22 to 2024-25, on the grounds of alleged short payment of GST on the supply of goods and services concerning the solar power-generating system.

As per the disclosure, the company had received the notice on March 28, 2026. The company further claims that it is familiar with the fact that in recent days, similar notices have been issued to several other renewable energy companies by the GST authorities, and several companies are not even satisfied, finding such notices invalid and unfair. Therefore, challenging the same before various judicial forums across the nation.

Presently, the company is analysing the issued notice and demand raised through the same. Planning to challenge the matter before an appropriate judicial authority. As of now, the company does not expect any immediate impact on its financial or operational activities due to the SCN.

The company has made the aforementioned disclosure via a regulatory filing dated March 29, 2026, addressed to the Bombay Stock Exchange (BSE) and the National Stock Exchange of India Limited (NSE), issued under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.