Mahindra & Mahindra Limited announced that the Company has received an order from the Deputy Commissioner, Begumpet, Telangana imposing a penalty u/s 73 of the Central Goods and Services Tax Act, 2017 amounting to INR 74,200 in relation to the audit conducted for the Financial Year 2020-2021 on the contention that tax has been paid under the wrong head that is, IGST instead of CGST and SGST. Based on the Company's assessment, an appeal will be filed, and the Company is hopeful of a favourable outcome at the appellate level and does not reasonably expect the said Order to have any material financial impact on the Company. The Order dated 14 May 2024 has been received by the Company on 14 May 2024 around 04:00 P.M.
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