Tax officers provoke inspection of Mahindra & Mahindra information in Chennai

Mahindra Group Chairman Anand Mahindra. File
| Photograph Credit score: ANI

Mahindra & Mahindra Ltd. (M&M) on Saturday (December 28, 2024) stated state tax authorities in Tamil Nadu initiated an inspection of information at one of many locations of its enterprise operations in Chennai.

“Authorisation for inspection/search proceedings beneath CGST Act 2017 was issued by Extra Commissioner (ST), Intelligence-I (FAC), Chennai-6 on the corporate,” M&M stated in a regulatory submitting.

“Subsequently, the State Tax officer, Gr-I, Intelligence – I, Chennai – 6, initiated an inspection of the information at one of many locations of enterprise operations of the corporate in Chennai, Tamil Nadu,” it added.

“The authorisation for inspection/search proceedings dated December 26, 2024, was proven to the corporate’s officers on December 27, 2024, at round 12.15 p.m.,” it added.

“The GST officers have inspected the information and given some observations on sure GST compliance points and have suggested the corporate’s officers to submit the mandatory paperwork for reconciliation,” it stated.

In the course of the proceedings, the officers sought information associated to transactions referring to the availability of products or companies, together with fee beneath reverse cost and enter tax credit score claims by the corporate for a selected interval.

“The corporate officers cooperated with the GST officers and responded to all of the clarifications and particulars sought by them,” M&M stated, including that it’s going to additional be offering all the mandatory further paperwork sought within the due course.

“This has not impacted the operations of the corporate, that are persevering with as regular,” it added.

Primarily based on the preliminary evaluation, the corporate doesn’t fairly count on the result of the proceedings to have any materials influence on the corporate, it stated, including that it has “at all times maintained excessive requirements with respect to compliance of all legal guidelines and rules, together with the immediate fee of relevant taxes”.