Mahindra Holidays & Resorts India on Wednesday said tax authorities have slapped a demand notice of about Rs 16.77 crore, including a penalty."We wish to inform you that the company has received an Order dated August 13, 2024, from the Assistant Commissioner, Anna Salai, Chennai Central, Tamil Nadu," Mahindra Holidays & Resorts India Ltd said in a regulatory filing. The company is taking appropriate steps to pursue legal remedies before the appropriate authority in this regard, it added."The Company has received an Order from the Authority for FY2019-20 requiring the Company to pay a demand of Rs 16,76,61,092 (including a penalty of Rs 88,81,479) under applicable provisions of the TN GST Act, 2017 & CGST Act, 2017. "The Order has been passed primarily on account of GST on Other Incomes, Reverse Charge Mechanism on Other Expenses, Excess utilization of ITC, Reversal of ITC on exempt supplies, etc.," Mahindra Holidays & Resorts India Ltd said in the filing. The hospitality firm further said it does not expect the said order to have any material financial impact on the company. Get Latest Business News , Stock Market Updates and Videos ; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Business Twitter and Facebook . Subscribe on YouTube . None
Popular Tags:
Share This Post:
LIC Unclaimed Dividend --What Is The Procedure For Claiming LIC Unclaimed Dividend Amount; List Of Documents Required
August 27, 2024Cabinet clears Unified Pension Scheme; decision ensures dignity & financial security for government employees, says PM Modi
August 25, 2024What’s New
Spotlight
Today’s Hot
-
- August 15, 2024
-
- August 15, 2024
-
- August 15, 2024
Featured News
Latest From This Week
RBL Bank Launches Special Edition Of Vijay Fixed Deposits, Offers Upto 8.85% Interest Rates
PERSONAL-FINANCE
- by Sarkai Info
- August 14, 2024
Bank Holiday: Will Banks Be Closed Tomorrow For Independence Day? Check What RBI's Holiday Calendar Says
PERSONAL-FINANCE
- by Sarkai Info
- August 14, 2024
Bank Of Baroda Revises Fixed Deposit Rates From Today 13 August 2024 --Check Latest FD Rates
PERSONAL-FINANCE
- by Sarkai Info
- August 13, 2024
Subscribe To Our Newsletter
No spam, notifications only about new products, updates.