GST Officials Conduct Inspection at Mahindra & Mahindra’s Chennai Unit
By: Admin
Date: December 30, 2024
Categories: GST Recent News
Reading Time: 4 Minutes
Mahindra & Mahindra Ltd (M&M) announced that tax authorities in Tamil Nadu have conducted an inspection of records at one of its Chennai facilities. The inspection, authorized under the CGST Act, 2017, was initiated by the Additional Commissioner (ST), Intelligence-I (FAC), Chennai-6.
Inspection Details
Authorization Date: December 26, 2024
Inspection Date: December 27, 2024, at 12:15 PM
During the proceedings, GST officials examined:
Transactions related to the supply of goods and services.
Reverse charge payments and input tax credit claims.
M&M stated that the officials provided observations on certain GST compliance issues and advised the submission of additional documents for reconciliation. The company has cooperated fully and committed to providing all required details.
Mahindra & Mahindra’s Electric Vehicle Push
Amid GST inspections, Mahindra continues its focus on electric vehicles (EVs). The automaker recently launched the compact BE 6e and the luxurious XEV 9e electric SUVs, featuring:
Driving range: Over 500 km per charge.
Prices: Starting at $22,500 (BE 6e) and $26,000 (XEV 9e).
These launches aim to strengthen Mahindra’s position in India’s SUV and EV markets, competing with industry leaders like Hyundai and Toyota. By offering lower running costs and sustainability, Mahindra targets the growing demand for eco-friendly vehicles in the compact SUV segment, which grew by 20% in the first half of the fiscal year.
This strategic move underscores Mahindra’s commitment to innovation while addressing compliance matters with tax authorities. Stay tuned for further updates.
