Mahindra Holidays Receives ₹9.78 Cr Tax Show Cause Notice

Mahindra Holidays & Resorts India Ltd has received a Show Cause Notice (SCN) from the Assistant Commissioner of Commercial Taxes (Audit), Madikeri, demanding ₹9,78,36,455 for FY 2022-23. The demand includes tax, interest, and penalty related to claims under the Karnataka and Central Goods and Services Tax Acts, specifically concerning ITC claimed in GSTR-3B, ineligible ITC availed, and tax discharged on supplies reported in GSTR-7 and GSTR-8. The company, however, assesses that the SCN is not expected to have a material financial impact and is taking necessary steps.