ACME Solar Holdings has disclosed receiving a Show-Cause cum Demand Notice (SCN) dated March 23, 2026, from the Directorate General of GST Intelligence, Jaipur. The SCN alleges a significant GST shortfall concerning solar power generation systems supplied between April 2021 and March 2025. The demand aggregates to approximately Rs. 149.73 Crores, plus applicable interest and penalty. The company is currently reviewing the matter with advisors and plans to contest the allegations.
Disclosure of Regulatory Notice Receipt
ACME Solar Holdings Limited formally announced the receipt of a Show-Cause cum Demand Notice (“SCN”) from the Office of the Directorate General of Goods & Services Tax Intelligence (DGGI), Zonal Unit Jaipur, Rajasthan. The notice was dated March 23, 2026, and formally received by the company on March 28, 2026.
Allegations and Demand Quantum
The SCN stems from proceedings initiated under the CGST Act, 2017, and RGST Act, 2017. The core allegation centers on the purported short payment of GST related to the supply of goods and services utilized in solar power generating systems. The total GST demand claimed by the DGGI aggregates to approximately Rs. 149.73 Crores. This figure is inclusive of applicable interest and penalties, covering the period from April 2021 to March 2025.
Company Response and Expected Impact
ACME Solar Holdings has indicated that the company is actively reviewing the SCN alongside its dedicated tax and legal advisors. Management intends to formally contest the matter before the appropriate judicial forums, noting that similar demands are being challenged by other renewable energy sector players nationwide. Crucially, the company stated that it does not expect any immediate financial or operational impact as a result of this specific notice.
Source: BSE
