Sterling and Wilson Renewable Energy Limited has informed the Exchange about orders passed by Assistant Commissioner of CGST department Navi Mumbai disallowing input tax credit on certain transactions with a vendor for the period of April 2019 to March 2020 and April 2020 to March 2021 and demanded tax and penalty aggregating approx INR 53.40 Lakhs
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Sterling and Wilson Renewable Energy has received orders dated March 30, 2026, from the Assistant Commissioner of CGST, Navi Mumbai, disallowing input tax credit (ITC) on certain transactions with a vendor. The order covers two financial years: April 2019 to March 2020 and April 2020 to March 2021. Total tax and penalty demanded aggregates to approximately INR 53.40 Lakhs, with the penalty component alone being INR 20.33 Lakhs for FY 2019-20 and INR 6.37 Lakhs for FY 2020-21. The company has stated there is no material impact on its operations and is in the process of evaluating the order to take appropriate steps, which may include filing an appeal.
The financial impact is small (under INR 1 crore) and the company says operations are unaffected, so near-term stock impact should be limited. However, investors should watch whether the company decides to appeal or accept the demand, as it reflects a minor compliance/tax dispute.