MAHINDRA HOLIDAYS : RECEIVES SHOW CAUSE NOTICE FROM GST AUTHORITY

• Company received a Show Cause Notice (SCN) from the Additional / Joint Commissioner, Central GST Audit, Commissionerate, Dehradun. • SCN demands an aggregate amount of ₹11,33,69,421 for FY 2020-21, 2021-22, 2022-23 & 2023-24. • Demand includes tax of ₹11,33,19,421 and penalty of ₹50,000. • Primarily on account of short payment of tax on supply of services in Uttarakhand and short payment of tax due to difference in turnover. • Company does not expect any material financial impact based on counsel's advice. • Company is taking steps to pursue legal remedies. Impact: Neutral (Regulatory notice with no expected material financial impact)

Mahindra Holidays & Resorts India Limited

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