Sterling and Wilson Renewable Energy Receives ₹2.96 Crore GST Order from Andhra Pradesh Authorities

Sterling & Wilson Renewable Energy Limited has received a regulatory order from GST authorities in Andhra Pradesh, as disclosed in its filing with stock exchanges. The order pertains to tax-related issues spanning a five-year period and involves a significant financial implication for the renewable energy company.

GST Order Details

The Additional Commissioner, CGST, Guntur, Andhra Pradesh has issued an order to Sterling and Wilson Renewable Energy regarding tax shortfall and mismatch of input tax credits. The order covers the period from April 2018 to March 2023, representing a comprehensive review of the company's GST compliance over five years.

Parameter	Details
Issuing Authority	Additional Commissioner, CGST, Guntur
Order Amount	₹2.96 crores (excluding penalty and interest)
Period Covered	April 2018 to March 2023
Nature of Issues	Tax shortfall and input tax mismatch

Financial Protection Through Indemnity

The company has indicated that the financial implications of this GST order are covered under an existing indemnity agreement. This arrangement provides protection against potential liabilities and involves multiple parties in the renewable energy sector.

The indemnity agreement includes the following parties:

Sterling and Wilson Renewable Energy Limited
Reliance New Energy Limited
Shapoorji Pallonji and Co. Private Limited
Mr. Khurshed Daruvala

Company's Response and Next Steps

Sterling and Wilson Renewable Energy has stated that it is currently in the process of evaluating the contents of the GST order. The company is assessing the details to determine the most appropriate future course of action regarding this regulatory matter.

The disclosure was made in compliance with Regulation 30 of the SEBI Listing Regulations, which requires listed companies to inform stock exchanges about material developments that could impact their operations or financial position. The company has confirmed that no aberrations or non-compliances were specifically identified by the authorities in their communication beyond the tax shortfall and input tax mismatch issues mentioned in the order.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.10%	+7.54%	-2.23%	-28.42%	-52.03%	-1.90%

Sterling & Wilson Renewable Energy Limited has received a GST order from Haryana authorities concerning input tax credit mismatch for the financial year 2018-19. The company disclosed this development to stock exchanges under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

GST Order Details

The regulatory filing reveals that Haryana GST authorities have issued an order for mismatch of input tax credits. The financial implications of this order are detailed in the table below:

Component:	Amount
Input Tax Mismatch:	₹6.85 lakh
Penalty:	₹6.85 lakh (equal amount)
Interest:	Applicable interest
Financial Year:	2018-19

Company Response

Sterling & Wilson Renewable Energy has indicated that it is currently in the process of evaluating the contents of the order. The company stated it is deciding on the future course of action regarding this GST matter. No specific timeline has been provided for the completion of this evaluation process.

Regulatory Compliance

The disclosure was made pursuant to SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/P/CIR/2025/25 dated February 25, 2025. Chief Financial Officer Ajit Pratap Singh signed the regulatory filing, confirming that the information provided is true, correct and complete to the best of his knowledge and belief.

Filing Details

The regulatory disclosure was submitted to both BSE Limited and National Stock Exchange of India Limited on December 11, 2025. The company trades under scrip code 542760 on BSE and symbol SWSOLAR on NSE. The filing included Form A, which provides detailed information about communications received from regulatory authorities.