Regulatory / Tax Litigation
ACME Solar Receives ₹149.73 Cr GST Demand Notice
NSE
ACMESOLAR
BSE
544283
ACME Solar has received a Show Cause cum Demand Notice (SCN) from GST authorities alleging ₹149.73 crore tax shortfall related to solar project operations.
PRICE-SENSITIVE TRIGGER
Event: GST Demand Notice (SCN) Received
Type: Regulatory / Tax Litigation
Impact: Negative
Immediate Effect: Creates legal overhang, May impact investor sentiment.
Authority
DGGI (GST Intelligence), Jaipur
Nature
Alleged short payment of GST
Demand Amount
₹149.73 Crore
Period
April 2021 – March 2025
What Happened ?
ACME Solar has received a Show Cause Notice (SCN) from:
- Directorate General of GST Intelligence (DGGI)
- Jaipur Zonal Unit
Allegation:
- Short payment of GST on:
- Goods & services related to solar power generation systems
Context:
- Similar notices issued across renewable energy sector
Detailed breakdwon
Nature fo Case
- Tax dispute under:
- CGST Act, 2017
- RGST Act, 2017
Amount Involved
- ₹149.73 Cr (including interest & penalty exposure)
Legal Position
- Company is:
- Reviewing with advisors
- Planning to contest legally
Management View
- No immediate financial or operational impact expected
Management commentary
- SCN is being reviewed with tax & legal advisors
- Matter will be contested in appropriate forums
- No immediate impact expected
Risk Analysis
Key Risks
- Adverse legal ruling
- Cash outflow if liability confirmed
- Sector-wide regulatory tightening
Worst Case Scenario
Full liability payment + penalties → margin impact
Risk Level: High
Reason:
- Large tax demand + legal uncertainty
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