Sterling and Wilson Renewable Energy Receives Order Regarding Input Tax Credit
Sterling and Wilson Renewable Energy Limited announced today that it received orders from the Assistant Commissioner of Div- I CGST & C. Ex, Navi Mumbai, Maharashtra, disallowing input tax credit on vendor transactions. The orders pertain to the period of April 2019 to March 2020 and April 2020 to March 2021.The total tax and penalty demanded aggregate to approximately INR 53.40 Lakhs. This includes INR 20.33 Lakhs for the period April 2019 to March 2020, and INR 6.37 Lakhs for the period April 2020 to March 2021.
According to the company, there is no material impact on the operations of Sterling and Wilson Renewable Energy Limited. The company is currently evaluating the order and taking appropriate steps.
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