Mahindra Holidays & Resorts India Ltd on Saturday mentioned it has obtained a requirement of over Rs 17.5 crore from GST authority in Chennai over an alleged mismatch in turnover and reversal of enter tax credit score associated matter.
The corporate has obtained a requirement order from the Business Tax Officer, Anna Salai, Chennai for FY 2020-21 of Rs 17,59,15,319, together with curiosity of Rs 6,12,61,348 and penalty of Rs 1,11,04,906 on the fee of 10 per cent below relevant provisions of the TNGST Act, 2017 & CGST Act, 2017 & IGST Act, 2017, Mahindra Holidays & Resorts India Ltd (MHRIL) mentioned in a regulatory submitting.
“The order has been handed totally on account of mismatch in turnover, reversal of enter tax credit score, reversal of enter tax credit score attributable to cancelled GSTIN of distributors and discount in legal responsibility for credit score notes,” it mentioned.
Contemplating the deserves of the case, the corporate intends to file an attraction earlier than acceptable authority on this regard, MHRIL mentioned, including primarily based on its evaluation and recommendation of the counsel, it doesn’t count on the order to have any materials monetary affect on the corporate.
