Mahindra & Mahindra Limited announced that the Company has received an order from the Senior Joint Commissioner, Large Taxpayer Unit, Corporate Division, West Bengal imposing a penalty u/s 73 of the Central Goods and Services Tax Act, 2017 amounting to INR 1,00,685.13 in relation to the assessment conducted for the Financial Year 2018-19. 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. The Order dated 26th April 2024 has been received by the Company on 26th April 2024 around 11:25 A.M. Name of the authority: Senior Joint Commissioner, Large Taxpayer Unit, Corporate Division, West Bengal.

The Company has received an order from the Office of the Senior Joint Commissioner, Large Taxpayer Unit, Corporate Division, West Bengal imposing a penalty u/s 73 of the Central Goods and Services Tax Act, 2017 amounting to INR 1,00,685.13 in relation to the assessment conducted for the Financial Year 2018-19, on the contention that the Company has claimed Input Tax Credit (ITC) on certain invoices where there are some non-compliances at the end of the supplier. Based on the Company's assessment, an appeal will be filed, and the Company is hopeful of a favorable outcome at the appellate level and does not reasonably expect the said Order to have any material financial impact on the Company.