Sterling and Wilson Renewable Energy Limited has received an order from the Assistant Commissioner of State Tax, Mumbai, disallowing input tax credit (ITC) on certain transactions from April 2019 to March 2020. The authorities have demanded tax, interest, and penalty amounting to approximately INR 62.93 Lakhs. The company is currently evaluating the order and preparing to take appropriate corrective steps, noting that there is no material impact on current operations.
Receipt of Regulatory Communication
On February 26, 2026, Sterling and Wilson Renewable Energy Limited received a formal order from the Assistant Commissioner of State Tax, Mumbai, Maharashtra (referred to as the “GST authorities”). This communication pertains to an assessment covering the financial period from April 2019 to March 2020.
Summary of Material Contents
The core issue detailed in the order is the disallowing of input tax credit (ITC) claimed on certain past transactions. As a result of this disallowance, the authorities have demanded an aggregate sum covering tax, interest, and penalty amounting to approximately INR 62.93 Lakhs.
Financial and Compliance Assessment
The communication specifies that a penalty or restriction amounting to INR 20.33 Lakhs has been imposed pursuant to the order. The company has formally declared that, following review, there is no material impact expected on the ongoing operations of the listed entity.
Company Action
Sterling and Wilson Renewable Energy Limited confirms that it is currently in the process of evaluating the order thoroughly. The organization is taking the necessary and appropriate steps in response to the communication received from the state tax authority.
Source: BSE
