Adani Green Energy Limited (AGEL) has received an order from the Office of the Assistant Commissioner of State Tax, Ahmedabad, under Section 73 of the Central Goods and Services Tax Act, 2017, regarding an alleged excess availment of input tax credit (ITC) for the financial year 2020-21. The tax demand, including penalties, amounts to Rs 2.05 crore.
According to the company’s disclosure to stock exchanges, the demand includes a penalty component of Rs 10.85 lakh. The notice was received by Adani Green Energy via email on February 26, 2025, at 3:06 PM.
Company’s response to the tax order
Adani Green Energy has stated that it is evaluating the next steps based on a detailed review of the order. The company is exploring all legal options, including filing an appeal, and believes that there is strong merit in contesting the demand.
The company also clarified that there will be no material impact on its financials, operations, or other activities due to this order.
Regulatory disclosure
The disclosure was made under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements (LODR). The company has assured investors that it remains committed to compliance with applicable tax regulations and is actively addressing the matter.
