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Shocking! Mahindra Recalls 1 Lakh+ XUV 700, XUV 400 Electric Over Major Engineering Problem - Trak in - Indian Business of Tech, Mobile & Startups

Shocking! Mahindra Recalls 1 Lakh+ XUV 700, XUV 400 Electric Over Major Engineering Problem - Trak in - Indian Business of Tech, Mobile & Startups
trak.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from trak.in Daily Mail and Mail on Sunday newspapers.

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M&M penalty: M&M gets Rs 14 3 lakh penalty notice for incorrect input tax credit claim by erstwhile arm

Mahindra & Mahindra has been fined over Rs 14.3 lakh ($20k) for taking incorrect input tax credit during the transition to the GST regime by Mahindra Vehicle Manufacturers, which has since been merged into it. The company is hopeful of a favourable outcome at an appellate level, as it does not expect the order to have any significant financial impact, M&M said in a regulatory filing. The order was given on 20 July, 2023, and the fine must be paid along with interest in line with the applicable CGST Act of 2017.

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Erstwhile Arm of M&M Receives Rs 14 3 Lakh Penalty Notice for Incorrect Input Tax Credit Claim

Erstwhile Arm of M&M Receives Rs 14 3 Lakh Penalty Notice for Incorrect Input Tax Credit Claim
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M&M gets Rs 14 3 lakh penalty notice for incorrect input tax credit claim by erstwhile arm

In a regulatory filing, the company said, based on its assessment, prevailing law and the advice of the counsel, it is hopeful of a favourable outcome at the appellate level.

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M&M Penalty: M&M gets INR 14 3 lakh penalty notice for incorrect input tax credit claim by erstwhile arm, ET Auto

M&M Penalty: Mahindra & Mahindra has been fined over INR 14.3 lakh (USD 20k) for taking incorrect input tax credit during the transition to the GST regime by Mahindra Vehicle Manufacturers, which has since been merged into it. The company is hopeful of a favourable outcome at an appellate level, as it does not expect the order to have any significant financial impact, M&M said in a regulatory filing.

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