FCC

Mahindra Lifespace to Appeal Tamil Nadu GST Tax Demand

2024-12-13

Mahindra Lifespace Developers Ltd has announced a tax demand of Rs 20.9 million imposed by the Tamil Nadu GST department, including interest and penalties. The order, issued by the Assistant Commissioner of State Tax, Chengalpattu, cites an alleged shortfall in GST payments under Section 74 of the GST Act, 2017.

The realty firm refuted the allegations, stating, “Based on the company's assessment, there is no noncompliance, and a general penalty has been imposed.” The company plans to appeal the order, expressing confidence in a favorable resolution.

Mahindra Lifespace assured stakeholders that the tax demand is unlikely to have a material financial impact.