Mahindra Holidays Faces Rs 16.77 Crore Tax Demand

Mahindra Holidays & Resorts India Ltd received a tax demand notice amounting to Rs 16.77 crore, including penalties, from the Assistant Commissioner, Chennai Central, for the fiscal year 2019-20. The company plans to challenge the order through legal means and does not foresee a significant financial impact.

Mahindra Holidays & Resorts India on Wednesday was hit with a tax demand notice of approximately Rs 16.77 crore, including penalties, from the Assistant Commissioner in Chennai Central, Tamil Nadu.

The company disclosed in a regulatory filing that the notice, dated August 13, 2024, pertains to fiscal year 2019-20 and cites various GST provisions under which the amount is owed.

Mahindra Holidays & Resorts India assured stakeholders that it is undertaking legal steps to address the order and does not expect any material financial repercussions for the company.

(With inputs from agencies.)