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Mahindra & Mahindra imposed with a penalty under CGST Act Back
(21 Nov 2023)
Mahindra & Mahindra has received an order from the Office of the Joint Commissioner, CGST & Central Excise Ujjain Commissionerate, Madhya Pradesh imposing a penalty u/s 73 of the CGST Act, 2017 amounting to Rs. 33,95,034/- in relation to the two-wheeler business of Mahindra Two Wheelers (MTWL), which was demerged from MTWL and has since been merged with the Company.

Based on the Company's assessment, an appeal will be filed and the Company is hopeful of a favourable outcome at the appellate level and does not reasonably expect the said Order to have any material financial impact on the Company.