Mahindra & Mahindra Financial Services has informed that the Company has received an Assessment Order from the office of the Superintendent, Goods and Services Tax, Government of Rajasthan imposing a total penalty demand of Rs 40,000 with respect to FY 2018-19 primarily alleging wrong availment of GST input tax credit by the Company. Based on the Company’s assessment, and prevailing law, it is of the belief that the Company has appropriately availed eligible input tax credit. However, since the penalty amount is immaterial, the Company intends to discharge the same as per order. The details of the above Order, as required under Clause 20 of Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July 2023 is enclosed as Annexure A. The Assessment Order dated 4th April 2024 was received by the Company on 15th April 2024 at 5:30 pm (IST). This intimation is also being uploaded on the Company's website at https://www.mahindrafinance.com/investor-relations/regulatory-filings.
