GST officials conduct an inspection at Mahindra & Mahindra’s unit in Chennai

Mahindra & Mahindra Limited on Saturday announced that tax authorities in Tamil Nadu have begun examining records at one of the locations of its business operations in Chennai. Authorization for inspection/inspections under the CGST Act, 2017 has been issued by the Additional Commissioner (ST), Intelligence-I (FAC), Chennai-6, the company said in a regulatory filing.

It added that the authorization for inspection procedures dated December 26, 2024 was presented to company officials on December 27, 2024 at around 12.15 p.m.

“The GST officials examined the records and made some observations on some GST compliance issues and advised the company officials to submit necessary documents for reconciliation,” it said.

During the proceedings, officers sought records relating to transactions relating to the supply of goods or services, including payment under reverse duty and input tax credit claims by the company for a specified period.

The company officials cooperated with the GST officials and responded to all the clarifications and details they requested, M&M said, adding that it would also provide all necessary additional documents required in due course.

Throughout the proceedings, officers requested records relating to transactions involving the supply of goods or services, such as payment under reverse duty and input tax credit claims for a certain period.

New Mahindra and Mahindra electric cars

Mahindra & Mahindra recently unveiled a new lineup of electric vehicles with an aim to expand its market share in the competitive Indian SUV market. The company, ranked as the country’s second-largest SUV maker, introduced the BE 6e compact car and the XEV 9e luxury electric SUV. These vehicles have an impressive driving range of over 500 kilometers on a single charge, and their prices start at around $22,500 and $26,000 respectively.

By entering segments dominated by competitors such as Hyundai Motor and Toyota, Mahindra aims to capitalize on the growing demand for electric vehicles in India. The smaller BE 6e will compete in the compact SUV market, which saw growth of nearly 20% in the first half of the current financial year. The segment is currently led by the Hyundai Creta and Toyota Urban Cruiser Hyryder, with prices ranging between $13,000 and $24,000.

Unlike its rivals’ offerings, Mahindra’s electric SUVs offer a cost-effective advantage with lower running costs. This strategic move is expected to strengthen Mahindra’s position in the electric vehicle market and attract environmentally conscious consumers who are looking for efficient and sustainable transportation solutions.