R.R. Hosiery, Off Dr. E. Moses Rd. Mahalaxmi, Mumbai - 400 011
Tel: (022) 3001 6600 Fax: (022) 3001 6601
CIN No. : L17100MH1905PLC000200
Date: May 24, 2024
To,
BSE Limited.
National Stock Exchange of India Limited.
Phiroze Jeejeebhoy Towers,
"Exchange Plaza", Bandra Kurla Complex,
Dalal Street, Fort, Mumbai - 400001
Bandra (E),Mumbai - 400051
(Security code: 503100)
(Symbol: PHOENIXLTD)
Dear Sir/Madam,
Sub: - Intimation under Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Pursuant to Regulation 30(6) read with Para A of Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, ("Listing Regulations"), we wish to inform you that subsidiary of the Company viz. Offbeat Developers Private Limited ("ODPL") has received show cause notice, from the GST authorities for payment of tax liability along with the applicable interest and penalty for the tax period April 2019 to March 2020.
ODPL shall be representing the matter in the personal hearing before the GST authorities and intend to contest the matter at an appropriate forum.
The details of the above notice as required under Clause 20 of Para A of Part A of Schedule
of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 are given in Annexure A to this letter.
The aforesaid information is also being uploaded on the Company's website at https://www.thephoenixmills.com/investors/FY2025/Exchange-Intimations.
We request you to take the above information on record.
to pay the amount of tax as ascertained below along with amount of interest
passed
and penalty for the period April 2019 to March 2020.
Act
Tax
Interest
Penalty
Total
Amount in
Amount in
Amount in
Amount in
Rs.
Rs.
Rs.
Rs.
IGST
-
-
-
-
CGST
4,02,08,566
3,86,26,662
40,20,857
8,28,56,085
SGST
4,02,08,566
3,86,26,662
40,20,857
8,28,56,085
Total
8,04,17,132
7,72,53,324
80,41,714
16,57,12,170
c)
Date of
receipt
of
Notice dated May 24, 2024, was received by way of an email intimation at
direction
or
order,
12.35 p.m. (IST).
including
any
ad-
interim
or interim
orders,
or
any
other
communication
from
the authority
d)
Details
of
the
The grounds and qualification as stated by authorities is as follows:
violation(s)/contraven
tion(s)
committed
or
∙ GST liability on account of Mismatches between GSTR-3B and GSTR-
alleged
to
be
2A.
committed.
∙ In-eligible ITC Claimed from the non-filersGSTR-3B vendors.
e)
Impact
on
financial,
There is no material impact on the financial position or operation of the
operation
or
other
Company due to the said tax liability and penalty. The impact is limited to
activities of the listed
the extent of tax liability as ascertained along with interest and penalty as
entity, quantifiable in
aforesaid on the subsidiary of the Company.
monetary terms to the
extent possible.
Attachments
Original Link
Original Document
Permalink
Disclaimer
The Phoenix Mills Limited published this content on
24 May 2024 and is solely responsible for the information contained therein. Distributed by
Public, unedited and unaltered, on
24 May 2024 13:05:10 UTC.
The Phoenix Mills Limited is an India-based real estate development company. The Company is engaged in the development and leasing of commercial and retail space. The Company operates through two segments: Property and related services and Hospitality. The Property and related services segment are engaged in providing mall /office areas on license basis and development of commercial / residential properties. The Hospitality segment is engaged in the operation of hotels and restaurants. Its retail projects include Phoenix Palladium, Mumbai; Phoenix Marketcity, Pune; Phoenix Mall of the Millennium, Pune and Palladium, Chennai. Its commercial projects include Art Guild House, Mumbai; The Centrium, Mumbai; Fountainhead Tower 1, Pune; Fountainhead Tower 2, Pune; Fountainhead Tower 3, Pune and Phoenix House, Mumbai. Its hospitality projects include The St. Regis, Mumbai and Courtyard by Marriott, Agra. Its residential projects include One Bangalore West and Kessaku, Bangalore.