Mahindra Holidays Receives GST Show Cause Notice Proposing Rs 36.29 Crore Demand for FY 2022-23 :

Mahindra Holidays & Resorts India Limited has informed the stock exchanges (National Stock Exchange of India Limited and Bombay Stock Exchange Limited) that on September 30, 2026, it received a Show Cause Notice (SCN) from the Deputy Commissioner of State Tax, Mumbai.

According to the disclosure made by the company vide an Intimation dated October 01, 2026, under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the notice was received via email, proposing an aggregate demand amounting to Rs 36.29 crore (including tax of Rs 19.10 crore, interest of Rs 15.26 crore, and penalty of Rs 1.91 crore) for the financial year 2022-23.

The aforesaid demand has been proposed under the provisions of the Maharashtra Goods and Services Tax (MGST) Act, 2017, and the Central Goods and Services Tax (CGST) Act, 2017, on the company's failure to pay GST on stay facilities and issuance of cross-charge invoices, unverified classification of the disposal or sale of fixed assets, short payment of GST on food, travel, and allied services provided to member guests, and availment of ineligible input tax credit, etc.

The company does not expect any impact on its financial, operational, and other activities as a result of the present issuance of the show cause notice. The company is adopting all necessary steps to file a response to the notice before the appropriate authority.

Refer to the official intimation for complete information.