Mahindra Lifespace Developers announced that the Tamil Nadu GST department had imposed a tax demand of Rs.2.09 crore, including interest and penalties.
Reetu | Dec 12, 2024 |
Mahindra Lifespace receives Rs.2.09 Crore GST Demand from Tamil Nadu GST Department
Mahindra Lifespace Developers, a real estate developer, announced on Wednesday that the Tamil Nadu GST department had imposed a tax demand of Rs 2.09 crore, including interest and penalties.
In a regulatory filing, Mahindra Lifespace Developers Ltd stated that “the company has received order from the Office of the Assistant Commissioner of State Tax, Chengalpattu, Assessment Circle Tamil Nadu, GST imposing tax demand along with interest and penalty.”
The order was issued in accordance with Section 74 of the GST Act 2017, which alleges that the corporation failed to pay its GST liability.
“Based on the company’s assessment, there is no non-compliance and a general penalty has been imposed,” Mahindra Lifespace officials stated.
The business stated that it will file an appeal against this order.
Mahindra Lifespace stated that it is hopeful for a good outcome at the appellate level and does not reasonably expect the order to have a major financial impact on the company.
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