Mahindra EPC Irrigation Limited has informed the Exchange about order received from the Dy. Commissioner (ST) STU-2, Abids Division, Hyderabad dated 7th April, 2025Intimating is being made as per SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July 2023 and SEBI Circular No. SEBI/HO/CFD/CFDPoD-2/CIR/P/2024/185 dated 31st December, 2024
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Mahindra EPC Irrigation has received a GST demand order from the Deputy Commissioner (ST), STU-2, Abids Division, Hyderabad. The order, dated 28th February 2025 (received on 8th April 2025), raises a GST demand of Rs. 3.11 crore along with a penalty of Rs. 31.20 lakh under Section 73 of the Telangana GST and CGST Act, 2017. The company plans to file an appeal against the order at the appellate level. Management has stated it does not reasonably expect the order to have any material financial impact on the company's operations.
While the combined tax demand and penalty of about Rs. 3.43 crore is notable, the company believes the outcome of its appeal will be favourable. Near-term impact on the stock is likely limited unless the appellate authority upholds the order; investors should watch for updates on the appeal.