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ACME Solar Holdings Ltd. ( (IN:ACMESOLAR) ) has shared an update.
ACME Solar Holdings Ltd. has disclosed that it received a show-cause-cum-demand notice from the Directorate General of Goods & Services Tax Intelligence, Jaipur, alleging short payment of GST on supplies related to solar power generating systems. The notice raises a demand of about Rs. 149.73 crore for April 2021 to March 2025, plus interest and penalties, but the company, which plans to contest the matter with support from tax and legal advisers, says it does not foresee any immediate financial or operational impact.
According to ACME Solar, similar GST notices have been sent to several other renewable energy companies, indicating a wider sectoral dispute over tax treatment of solar-related supplies. The case is likely to be argued before appropriate judicial forums, and while the final liability remains uncertain, the company’s stance suggests it views the claim as part of an industry-wide controversy rather than an isolated compliance issue.
More about ACME Solar Holdings Ltd.
ACME Solar Holdings Ltd. operates in the renewable energy sector, focusing on the development and supply of solar power generating systems in India. The Gurugram-based company is part of the country’s broader clean energy build-out, positioning itself among key players benefiting from policies promoting solar infrastructure and green power generation.
Average Trading Volume: 115,248
Technical Sentiment Signal: Strong Buy
Current Market Cap: 163.2B INR
For an in-depth examination of ACMESOLAR stock, go to TipRanks’ Overview page.