Chennai, July 26 -- Holiday resorts Mahindra Holidays and Resorts India Limited today said it has received a show cause notice from the Tamil Nadu Sales Tax department demanding Rs 33,28,74,524 (about Rs 33.28 crore).
The demand show cause notice has been issued under the provisions of the TNGST Act, 2017 & CGST Act, 2017 on account of adjustment in turnover, supply difference, trade payable, disposal of assets, and addition of assets.
According to Mahindra Holidays, based on its assessment and the advice of the counsel, it does not expect the said show cause notice to have any material financial impact.
The Company is taking appropriate steps to pursue legal remedies before the appropriate authority in this regard, the company added in ...