Overall meaning :
Say to the idolaters among your people, Muhammad, ‘If the All-Compassionate God truly had offspring—which is utterly impossible—I would be the first one to worship them. Glorified be the Lord of the heavens and the earth, the Lord of the Throne, and far exalted be He above all the imperfect attributes not befitting His majesty which they assign to Him! Let them, then, Muhammad, continue to indulge in their falsehood and ignorance and amuse themselves until they face the day on which they suffer the punishment with which they have been threatened!
Allah alone is the only true God deserving of worship in the heavens and the only true God deserving of worship on earth. He is the All-Wise God who puts everything in its perfect place, the All-Knowing from whom nothing whatsoever is hidden. Blessed is Allah to whom sovereignty over the heavens and the earth and all that lies between them belongs, with whom the knowledge of the time of Resurrection Day rests, and to whom will you all be brought back for judgement.
Those they worship and invoke besides Allah will have no power to intercede with Him, except for those of them who affirm Allah’s oneness—such as Jesus and the angels—and bear witness to this truth with sure knowledge. Only these will have the power of intercession for the believers but only after His permission.
If you, Muhammad, ask the idolaters among your people, ‘Who has created you?’ they will certainly say, ‘Allah alone has.’ How can they, then, be turned away from worshiping Allah who has created them, when they acknowledge this fact?!
Allah is fully aware of His Messenger’s cry, complaining of his people’s rejection of the truth and their unbelief, ‘Lord, these idolaters are a people who will not believe.’ Still pardon them, Muhammad, patiently bearing with them, and say, ‘Peace!’ They will soon come to know the dire consequences of their unbelief!