Tax & Penalty1 Oct 2026, 01:21 pm
Mahindra Holidays Receives ₹36.3 Cr Tax Show Cause Notice
AI Summary
Mahindra Holidays & Resorts India Ltd has received a Show Cause Notice (SCN) from the Deputy Commissioner of State Tax, Mumbai, demanding ₹36,29,52,674 for FY 2022-23. The demand includes tax, interest, and penalty, primarily related to alleged non-payment of GST on stay facilities, unverified classification of fixed asset disposal, short payment on food and travel services, and availment of ineligible input tax credit. The company, however, assesses that the SCN is not expected to have a material financial impact and is taking necessary steps.
Key Highlights
- Received Show Cause Notice from State Tax Authority.
- Demand of ₹36.3 Cr for FY 2022-23 includes tax, interest, penalty.
- Allegations include GST non-payment and input tax credit issues.
- Company believes no material financial impact is expected.
- Necessary steps are being taken before the authority.
Price Impact
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