Sterling Wilson Solar GST Demand INR 27.72 Crore

Key Quantitative Figures

• Total demand: ~INR 27.72 Crore (aggregate of tax and penalty)
• Tax amount: ~INR 13.86 Crore
• Penalty amount: ~INR 13.86 Crore
• Plus applicable interest (amount not quantified)

Parties Involved

• Issuing authority: Additional Commissioner, CGST, Jaipur, Rajasthan
• Recipient: Sterling and Wilson Renewable Energy Limited

Purpose/Rationale

The order has been issued by GST authorities towards alleged shortfall of taxes for the specified period.

Financial Impact

As per the disclosure: "There is no material impact on the operations of the Company, as the substantial portion of the demand is covered under the indemnity agreement executed between the Promoters and the Company."

Current Status

The Company is in the process of evaluating the order and deciding the future course of action.

Additional Details

• No aberrations/non-compliances identified by the authority mentioned in the communication
• No additional penalty or restriction or sanction imposed beyond what is stated in the order