Mahindra and Mahindra Financial Services has informed the company has received an Order under Section 73 of Central Goods and Service Tax Act, 2017 (DRC07) from the Government of Assam (Department of State Tax – GST) imposing a total penalty demand of Rs 20,000 primarily alleging claim of GST input tax credit from GST non-compliant supplier(s). 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, the company may not file an appeal as the demand amount is insignificant. The Company does not reasonably expect the said Order to have any material financial impact on the Company. 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 Order (DRC-07) dated 27-Aug-2024 was received by the Company on 27-Aug-2024 at 4.53 pm IST. This intimation is also being uploaded on the Company's website at https://www.mahindrafinance.com/investor-relations/regulatory-filings.
The above information is a part of company’s filings submitted to BSE.
