Waaree Energies Receives Rs 85.09 Lakh Demand Order From GST Department:

Waaree Energies Receives Rs 85.09 Lakh Demand Order From GST Department Waaree Energies Ltd has received a penalty order of Rs 85,09,810 from the GST department. The penalty is related to the GST amount that was to be paid on the subsidy amount for the installation of Rooftop Solar Panel systems for residential consumers. The penalty order was received on December 1, 2025, through an email from the Assistant Commissioner, Central GST and Central Excise Division-IV, Surat, under section 74(1) of the CGST Act, 2017, read with 74(1) of the Gujarat GST Act, 2017. The pena The Tax department believes that GST should also be charged on the subsidy amount that customers receive for installing rooftop solar panels in their homes.  The above disclosure was made by the company under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

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The company said that this issue won’t affect its finances or day-to-day operations. It has already paid the GST and interest that were demanded, but it believes the GST, interest, and penalty were wrongly charged. The company also said it will take proper steps to challenge the penalty order before the concerned authorities.