Sterling and Wilson Renewable Energy Limited announced the receipt of an order from the Assistant Commissioner, CGST & C.Ex, Navi Mumbai. The order disallows input tax credit on certain transactions for the periods spanning April 2019 to March 2020 and April 2020 to March 2021. This has resulted in a demand for aggregate tax and penalty amounting to approximately INR 53.40 Lakhs. The company is currently evaluating the order and initiating appropriate steps.
Disclosure of Regulatory Communication Received
In compliance with disclosure requirements, Sterling and Wilson Renewable Energy Limited confirmed the receipt of an order from the Assistant Commissioner, Div- I of CGST & C.Ex, Navi Mumbai, Maharashtra, on March 30, 2026. The underlying communication was dated March 30, 2026.
Summary of Material Contents
The communication pertains to the disallowance of input tax credit on certain transactions involving a vendor for two distinct financial periods. The company has been issued a demand for tax and penalty aggregating to approximately INR 53.40 Lakhs. Specifically:
- Period 1: April 2019 to March 2020, involving a demand of INR 20.33 Lakhs.
- Period 2: April 2020 to March 2021, involving a demand of INR 6.37 Lakhs.
The total aggregated demand for tax and penalty is stated as ~ INR 53.40 Lakhs.
Company Response and Financial Implication
The company stated that there is no material impact expected on the operations of the listed company as a result of this communication. Furthermore, the details confirm that Nil aberrations or non-compliances were identified by the authority beyond the specific demands noted. The Company is currently in the process of taking appropriate steps concerning this order.
Source: BSE
