Tax & Penalty22 Sept 2026, 12:16 pm
Sterling and Wilson Renewable Energy Receives ₹27.72 Cr Tax Demand Order
AI Summary
Sterling and Wilson Renewable Energy Ltd has received an order from the Additional Commissioner, CGST, Jaipur, Rajasthan, demanding taxes and penalties totaling approximately INR 27.72 Crore, plus applicable interest. This demand is related to an alleged shortfall of taxes for the period between November 2020 and November 2021. The company is currently evaluating the order and determining its next steps. Importantly, the company states that the substantial portion of this demand is covered under an indemnity agreement with its Promoters, suggesting no material impact on its operations.
Key Highlights
- Received tax demand order of ~ INR 27.72 Crore from CGST, Jaipur.
- Demand pertains to alleged tax shortfall from Nov 2020 to Nov 2021.
- Company is evaluating the order and deciding future course of action.
- Substantial portion of demand covered by promoter indemnity agreement.
- No material impact on company operations expected.
Price Impact
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