Sterling and Wilson Renewable Energy Limited has informed the Exchange about order has been issued by The Assistant Commissioner of State Tax, Mumbai, Maharashtra by disallowing input tax credit on certain transactions for the financial year April 2019 to March 2020 and demanded tax ,interest and penalty aggregating to INR 62.93 Lakhs
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The Assistant Commissioner of State Tax, Mumbai, Maharashtra has issued an order against Sterling and Wilson Renewable Energy disallowing input tax credit on certain transactions for the financial year April 2019 to March 2020. The total demand, including tax, interest, and penalty, aggregates to approximately INR 62.93 Lakhs, of which INR 20.33 Lakhs is the penalty component. The company has stated that this order will have no material impact on its operations. It is currently in the process of evaluating the order and determining appropriate next steps, which typically means filing an appeal with higher tax authorities. The disclosure was made on February 27, 2026, under SEBI Listing Regulations.
The demand amount is small (under INR 1 Crore) relative to the company's size, and management has confirmed no material operational impact. Shareholders should view this as a minor negative, but it is unlikely to move the stock price significantly. Investors should watch for updates on whether the company files an appeal.