Mahindra Holidays & Resorts India Ltd on Sunday said it has received a tax demand notice of over ₹363 crore including penalty, related to reporting of integrated goods and services tax (IGST) on its club membership services.
The company in a regulatory filing informed that it is taking appropriate steps to pursue legal remedies before the appropriate authority in this regard.
The show cause notice, dated June 28, 2025, was issued by the State Tax Officer, Anna Salai Central III, Chennai, Tamil Nadu.
"The Company has received a demand Show Cause Notice from the Authority for FY 2018-19 demanding ₹363,07,96,980 (tax of ₹181,53,98,490 and penalty of ₹181,53,98,490) under applicable provisions of TNGST Act, 2017 & CGST Act, 2017 on account of reporting of IGST on club membership services instead of CGST and SGST and sudden decrease of IGST payment since August," Mahindra Holidays stated.