Mahindra & Mahindra Ltd on Saturday 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 underneath CGST Act 2017 was issued by Further 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 Chennaiit added.
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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 pm.”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 regarding the provision of products or companies, together with cost underneath 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 normal, it added.
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Based mostly on the preliminary evaluation, the corporate doesn’t moderately anticipate the end result of the proceedings to have any materials impression on the corporate, it stated, including that it has “all the time maintained excessive requirements with respect to compliance of all legal guidelines and laws, together with the immediate cost of relevant taxes”.
