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Waaree Energies Limited has received demand orders from the Assistant Commissioner, CGST & CE Surat and the Assistant Commissioner of State Tax, Mumbai, under Section 74 of the CGST Act, 2017. The company received these intimations on December 30, 2025, at 04:03 PM and 06:05 PM IST, respectively.

The order from CGST Surat pertains to a demand for Input Tax Credit (ITC) amounting to ₹80,59,776/- (IGST), along with applicable interest and a penalty of ₹80,59,776/-. Additionally, interest and a penalty have been demanded for ITC of ₹54,63,189/- allegedly wrongly availed and for non-payment of consideration to suppliers within 180 days, amounting to ₹19,23,020.19/- in interest and ₹54,63,189/- in penalty.

The demand from the State Tax authority in Mumbai, following an earlier Show Cause Notice, proposes a balance tax payable of ₹2,48,44,384/- after allowing relief of ₹5,42,45,433/- from an initial proposed demand of ₹7,90,89,817/-. This pertains to alleged ineligible ITC, excess ITC claimed, and failure to cross-charge common ITC.

The company believes it has strong legal and factual grounds to contest these orders, asserting that it has discharged its GST liabilities in accordance with the law. The matters primarily involve issues of legal interpretation. Waaree Energies intends to file appeals before the appropriate authorities within the prescribed timelines. The company states that there is no impact on its financials, operations, or other activities.