Mahindra Logistics Limited has informed stock exchanges about receiving a GST penalty order of Rs 25,48,124.86 from the Deputy Commissioner, GST, Haridwar, Uttarakhand. The order, dated 12 March 2026 and received by the company at 16:56 p.m. (IST), pertains to GST assessment for FY 2021-2022 regarding alleged excess Input Tax Credit claims.

GST Assessment Details

The penalty has been imposed under applicable provisions of the Uttarakhand GST Act 2017, CGST Act 2017 and IGST Act 2017. The order specifically relates to alleged excess Input Tax Credit claimed by the company for the FY 2021-2022 period.

Financial Impact Assessment

The company has disclosed that these amounts will form part of the contingent liabilities in its financial statements. Based on the company's internal assessment, prevailing law, and advice from legal counsel, Mahindra Logistics remains hopeful of achieving a favourable outcome at the next adjudicating authority or tribunal level.

Company's Position

Mahindra Logistics has stated that it does not reasonably expect the order to have any material financial impact on the company's operations or financial performance. The company plans to challenge the order through appropriate legal channels available under GST regulations.

Regulatory Compliance

The intimation has been made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has also uploaded this disclosure on its official website at mahindralogistics.com in compliance with regulatory requirements. The disclosure includes detailed information as required under Schedule III of SEBI regulations regarding pending litigation and disputes.

Mahindra logistic Limited has informed stock exchanges about receiving a significant GST penalty order from tax authorities in Uttarakhand. The company disclosed this development through a regulatory filing dated 12 March 2026, highlighting the financial and legal implications of the assessment order.

GST Penalty Details

The Deputy Commissioner, Haridwar, Uttarakhand has imposed a penalty of Rs 1,57,58,256.97 on Mahindra Logistics Limited related to GST assessment for FY 2020-21. The penalty stems from alleged excess Input Tax Credit claimed by the company during the specified period. The assessment falls under applicable provisions of multiple GST legislations including Uttarakhand GST Act 2017, CGST Act 2017, and IGST Act 2017.

Financial Implications

The order dated 11 March 2026 directs the company to pay substantial amounts across multiple categories:

These amounts will be classified as contingent liabilities in the company's financial statements, reflecting the uncertain nature of the final outcome pending appeal proceedings.

Company's Response and Outlook

Mahindra Logistics Limited has expressed confidence in challenging the assessment order through appropriate legal channels. Based on the company's internal assessment, prevailing legal framework, and counsel advice, management remains hopeful of achieving a favourable outcome at the next adjudicating authority or tribunal level.

The company has stated that it does not reasonably expect the order to have any material financial impact on its operations or overall financial position. This assessment suggests management's confidence in the strength of their legal position and the likelihood of successful appeal.

Regulatory Compliance

The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating the company's commitment to transparent communication with stakeholders. The order was received by the company on 11 March 2026 at 5:00 p.m. (IST), and the regulatory filing was completed the following day.

Company Secretary Jignesh Parikh signed the disclosure document, which has also been uploaded on the company's official website for public access. The comprehensive disclosure includes detailed annexure providing complete information about the litigation as required under SEBI guidelines.