Sterling and Wilson Renewable Energy Limited has received an order from the Assistant Commissioner, CGST, Jaipur, Rajasthan, regarding a mismatch of input tax for the period April 2018 to March 2020. The tax amount totals ₹95.21 lakhs, excluding penalty and applicable interest. The matter is covered under an existing indemnity agreement, and the company is evaluating its next steps.
Details of Tax Order
Sterling and Wilson Renewable Energy Limited has been notified about an order concerning a mismatch related to input tax. The order was issued by the Assistant Commissioner, CGST, Jaipur, Rajasthan.
Financial Impact
The mismatch in input tax pertains to the period from April 2018 to March 2020. The aggregate amount of tax involved is ₹95.21 lakhs, not including any potential penalties and applicable interest. This amount is subject to review and further clarification.
Indemnity Agreement
The company clarifies that this matter is covered under an existing indemnity agreement involving Sterling and Wilson Renewable Energy Limited, Reliance New Energy Limited, Shapoorji Pallonji and Co. Private Limited, and Mr. Khurshed Daruvala.
Next Steps
Sterling and Wilson Renewable Energy Limited is currently evaluating the order and determining the appropriate course of action. Further updates will be provided as the situation develops.
Source: BSE
