Mahindra Holidays gets GST Demand Notice Worth ₹363 Cr
The company must provide the SCN with a thorough response that addresses each dispute, provides explanations, and, if required, seeks clarifications or a reduction in the demand.

Mahindra Holidays & Resorts India Ltd. has been issued a tax demand notice exceeding ₹363 crore, inclusive of penalties, by the Tamil Nadu GST ( goods and services tax) department.
The notice, dated June 28, 2025, relates to the financial year 2018-19 and alleges that the company incorrectly reported Integrated Goods and Services Tax ( IGST ) on its club membership services, rather than the required Central GST (CGST) and State GST (SGST).
The group has received a tax demand notice totalling ₹363.07 crore, which includes ₹181.53 crore as tax and an equal amount as penalty, over alleged misreporting of tax liabilities.
The company has declared in its regulatory statement that it is actively seeking legal remedies for contesting the demand in the presence of the relevant authorities. Mahindra Holidays has stated that it is not expecting the demand notice to have a huge financial impact on its company operations, stating its internal review and legal advisors as support.
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This is the company's second major GST-related demand of 2025. A separate GST demand order of more than ₹17.5 crore for the fiscal year 2020-21 was sent to Mahindra Holidays earlier in March. The order was connected to disparities in turnover and input tax credit reversals. Additionally, the company stated that they will appeal the decision.
The company is actively contesting the demand and has communicated its position to both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) as per regulatory requirements. The company must provide the SCN with a thorough response that addresses each dispute, provides explanations, and, if required, seeks clarifications or a reduction in the demand.
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