Corp. Office: Shree Laxmi Woolen Mills Estate, 2nd Floor,
R.R. Hosiery, Off Dr. E. Moses Rd. Mahalaxmi, Mumbai - 400 011
Tel: (022) 3001 6600 Fax : (022) 3001 6601
CIN No. : L17100MH1905PLC000200
Date: April 26, 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 the Company along with its Subsidiaries viz. Vamona Developers Private Limited, Offbeat Developers Private Limited, Market City Resources Private Limited, Graceworks Realty & Leisure Private Limited, Pallazzio Hotels & Leisure Limited, have received intimation(s) of tax liability dated April 25,2024 from the GST authorities for payment of tax along with the applicable interest and penalty for the tax period April 2019 to March 2020.
The authorities have advised the Company and aforementioned Subsidiaries of the Company to pay the amount of tax as determined, along with the applicable interest and penalty for the tax period April 2019 to March 2020. The Company and aforementioned Subsidiaries of the Company intend to contest the matter at an appropriate forum.
The details as required under 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.
Thanking You,
Yours Faithfully,
For The Phoenix Mills Limited
GAJENDRA Digitally signed by
GAJENDRA MEWARA
MEWARA Date: 2024.04.26 16:03:33 +05'30'
______________________
Gajendra Mewara
Company Secretary
Regd. Office : The Phoenix Mills Ltd., 462 Senapati Bapat Marg, Lower Parel, Mumbai 400 013. Tel : (022) 2496 4307 / 8 / 9
Fax : (022) 2493 8388 E-mail : info@thephoenixmills.com www.thephoenixmills.com
Corp. Office: Shree Laxmi Woolen Mills Estate, 2nd Floor,
R.R. Hosiery, Off Dr. E. Moses Rd. Mahalaxmi, Mumbai - 400 011
Tel: (022) 3001 6600 Fax : (022) 3001 6601
CIN No. : L17100MH1905PLC000200
Annexure A | |||||||||||||||||||||||||||
Sr. | Details of Events that need to be | Information of such event(s) | |||||||||||||||||||||||||
No. | provided | ||||||||||||||||||||||||||
The Phoenix Mills Limited ("the Company") | Vamona Developers Private Limited ("VDPL") | Graceworks Realty & Leisure Private Limited ("GRLPL") | |||||||||||||||||||||||||
a) | Name of the authority | Assistant Commissioner of State Tax, Investigation - C Mumbai. | Assistant Commissioner of State Tax, Investigation - C Mumbai. | Assistant Commissioner of State Tax, Investigation - C Mumbai. | |||||||||||||||||||||||
Department of Goods and Service Tax | Department of Goods and Service Tax | Department of Goods and Service Tax | |||||||||||||||||||||||||
b) | Nature and details of the action(s) taken, | Receipt of intimation of tax liability from GST authorities instructing | Receipt of intimation of tax liability from GST authorities | Receipt of intimation of tax liability from GST authorities instructing the | |||||||||||||||||||||||
initiated or order(s) passed | the Company to do the following: | instructing the VDPL to do the following: | GRLPL to do the following: | ||||||||||||||||||||||||
a. submit the response to the said notice by May 10,2024 ; and | a. submit the response to the said notice by May 10,2024 ; and | a. submit the response to the said notice by May 10,2024 ; and | |||||||||||||||||||||||||
b. to pay the amount of tax as detailed below determined, along | b. to pay the amount of tax as detailed below determined, along | b. to pay the amount of tax as detailed below determined, along with the | |||||||||||||||||||||||||
with the applicable interest and penalty for the tax period April | with the applicable interest and penalty for the tax period | applicable interest and penalty for the tax period April 2019 to March 2020 | |||||||||||||||||||||||||
2019 to March 2020 under GST Act on or before May 10,2024 | April 2019 to March 2020 under GST Act on or before May | under GST Act on or before May 10,2024 | |||||||||||||||||||||||||
10,2024 | |||||||||||||||||||||||||||
Act | Tax | Interest | Penalty | Total | Act | Tax | Interest | Penalty | Total | ||||||||||||||||||
Act | Tax | Interest | Penalty | Total | |||||||||||||||||||||||
Amount | Amount | Amount | Amount | ||||||||||||||||||||||||
in Rs. | in Rs. | in Rs. | in Rs. | ||||||||||||||||||||||||
Amount | Amount | Amount | Amount | ||||||||||||||||||||||||
in Rs. | in Rs. | in Rs. | in Rs. | ||||||||||||||||||||||||
Amount | Amount | Amount | Amount | ||||||||||||||||||||||||
in Rs. | in Rs. | in Rs. | in Rs. | IGST | 40002 | 33642 | 6000 | 79644 | |||||||||||||||||||
IGST | 2134516 | 1795128 | 320177 | 4249821 | |||||||||||||||||||||||
CGST | 7796002 | 6556438 | 1169400 | 15521840 | |||||||||||||||||||||||
IGST | 196912 | 165603 | 29537 | 392052 | SGST | 7796002 | 6556438 | 1169400 | 15521840 | ||||||||||||||||||
CGST | 12721095 | 10344001 | 1908164 | 24973260 | |||||||||||||||||||||||
SGST | 12721095 | 10344001 | 1908164 | 24973260 | |||||||||||||||||||||||
CGST | 10770338 | 8904176 | 1615551 | 21290065 | Total | 15632006 | 13146518 | 2344800 | 31123324 | ||||||||||||||||||
SGST | 10770338 | 8904176 | 1615551 | 21290065 | |||||||||||||||||||||||
Total | 27576706 | 22483130 | 4136505 | 54196341 | |||||||||||||||||||||||
Total | 21737588 | 17973955 | 3260639 | 42972182 | |||||||||||||||||||||||
c) | Date of receipt of direction or order, | Date of receipt of Notice - April 25, 2024 | Date of receipt of Notice - April 25, 2024 | Date of receipt of Notice - April 25, 2024 | |||||||||||||||||||||||
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 are as follows: | The grounds and qualification as stated by authorities are as | The grounds and qualification as stated by authorities are as follows: | |||||||||||||||||||||
violation(s)/contravention(s) committed | follows: | ||||||||||||||||||||||||||
or alleged to be committed. | A) GST Liability on account of non-reversal of ITC u/r 42 or 43 of | A) GST Liability on account of claiming of Block ITC as per section 17(5) of | |||||||||||||||||||||||||
MGST Rules 2017 inward supply of services in relation to Qualified | A) GST Liability on account of claiming of Block ITC as per section | MGST Act for construction of immovable property, Gift Items, Self- | |||||||||||||||||||||||||
Institutional Placement (QIP), Merger and Amalgamation. | 17(5) of MGST Act for construction of immovable property, | consumption items, Elevators and their parts, Interiors Works, Civil Works | |||||||||||||||||||||||||
Gift Items, Self-consumption items, Elevators and their parts, | and Repair and Maintenance. | ||||||||||||||||||||||||||
B) GST Liability on account of wrong levy of IGST for supply of | Interiors Works, Civil Works and Repair and Maintenance. | ||||||||||||||||||||||||||
Services within Maharashtra State. | |||||||||||||||||||||||||||
B) GST Liability on account of GST not collected and deposited on | |||||||||||||||||||||||||||
C) GST Liability on account of claiming of Block ITC as per section | the Consideration received in the form of Gift Vouchers. | ||||||||||||||||||||||||||
17(5) of MGST Act for for construction of immovable property, Gift | |||||||||||||||||||||||||||
Items, Self-consumption items, Elevators and their parts, Interiors | |||||||||||||||||||||||||||
Works, Civil Works and Repair and Maintenance. | |||||||||||||||||||||||||||
D) GST Liability on account of GST not collected and deposited on the | |||||||||||||||||||||||||||
consideration received in the form of Gift Vouchers | |||||||||||||||||||||||||||
e) | Impact on financial, | operation or | other | There is no material impact on the financial position or operation of the | There is no material impact on the financial position or operation | There is no material impact on the financial position or operation of the | |||||||||||||||||||||
activities of the listed entity, quantifiable | Company due to the said tax liability and penalty. The impact is limited | of the Company due to the said tax liability and penalty. The | Company due to the said tax liability and penalty. The impact is limited to the | ||||||||||||||||||||||||
in monetary terms to the extent possible. | to the extent of tax liability as ascertained along with interest and | impact is limited to the extent of tax liability as ascertained along | extent of tax liability as ascertained along with interest and penalty as aforesaid | ||||||||||||||||||||||||
penalty as aforesaid. | with interest and penalty as aforesaid on the subsidiary of the | on the subsidiary of the Company. | |||||||||||||||||||||||||
Company. |
Regd. Office : The Phoenix Mills Ltd., 462 Senapati Bapat Marg, Lower Parel, Mumbai 400 013. Tel : (022) 2496 4307 / 8 / 9
Fax : (022) 2493 8388 E-mail : info@thephoenixmills.com www.thephoenixmills.com
Corp. Office: Shree Laxmi Woolen Mills Estate, 2nd Floor, | ||||||||||||||||||||||||||||
R.R. Hosiery, Off Dr. E. Moses Rd. Mahalaxmi, Mumbai - 400 011 | ||||||||||||||||||||||||||||
Tel: (022) 3001 6600 Fax : (022) 3001 6601 | ||||||||||||||||||||||||||||
CIN No. : L17100MH1905PLC000200 | ||||||||||||||||||||||||||||
Sr. | Details of Events that need to be | Information of such event(s) | ||||||||||||||||||||||||||
No. | provided | |||||||||||||||||||||||||||
Market City Resources Private Limited ("MCRPL") | Pallazzio Hotels & Leisure Limited ("PHLL") | Offbeat Developers Private Limited ("ODPL") | ||||||||||||||||||||||||||
a) | Name of the authority | Assistant Commissioner of State Tax, Investigation - C | Assistant Commissioner of State Tax, Investigation - C Mumbai. | Assistant Commissioner of State Tax, Investigation - C Mumbai. | ||||||||||||||||||||||||
Mumbai. | ||||||||||||||||||||||||||||
Department of Goods and Service Tax | Department of Goods and Service Tax | |||||||||||||||||||||||||||
Department of Goods and Service Tax | ||||||||||||||||||||||||||||
b) | Nature and details of the action(s) | Receipt of intimation of tax liability from GST authorities | Receipt of intimation of tax liability from GST authorities instructing | Receipt of intimation of tax liability from GST authorities ODPLs to do | ||||||||||||||||||||||||
taken, initiated or order(s) passed | instructing MCRPL to do the following: | PHLL to do the following: | the following: | |||||||||||||||||||||||||
a. submit the response to the said notice by May 10,2024 ; | a. submit the response to the said notice by May 10,2024 ; and | a. submit the response to the said notice by May 10,2024 ; and | ||||||||||||||||||||||||||
and | b. to pay the amount of tax as detailed below determined, along | b. to pay the amount of tax as detailed below determined, along with | ||||||||||||||||||||||||||
b. to pay the amount of tax as detailed below determined, | with the applicable interest and penalty for the tax period April | the applicable interest and penalty for the tax period April 2019 to | ||||||||||||||||||||||||||
along with the applicable interest and penalty for the tax | 2019 to March 2020 under GST Act on or before May 10,2024 | March 2020 under GST Act on or before May 10,2024 | ||||||||||||||||||||||||||
period April 2019 to March 2020 under GST Act on or | ||||||||||||||||||||||||||||
before May 10,2024 | Act | Tax | Interest | Penalty | Total | Act | Tax | Interest | Penalty | Total | ||||||||||||||||||
Amount | Amount | Amount | Amount | |||||||||||||||||||||||||
Act | Tax | Interest | Penalty | Total | ||||||||||||||||||||||||
in Rs. | in Rs. | in Rs. | in Rs. | Amount | Amount | Amount | Amount | |||||||||||||||||||||
in Rs. | in Rs. | in Rs. | in Rs. | |||||||||||||||||||||||||
Amount | Amount | Amount | Amount | |||||||||||||||||||||||||
IGST | 474160 | 398769 | 71124 | 944053 | ||||||||||||||||||||||||
in Rs. | in Rs. | in Rs. | in Rs. | |||||||||||||||||||||||||
CGST | 9904856 | 8329984 | 1485728 | 19720568 | IGST | 959814 | 807204 | 143972 | 1910990 | |||||||||||||||||||
SGST | 9904856 | 8329984 | 1485728 | 19720568 | ||||||||||||||||||||||||
IGST | 1747204 | 1469399 | 262081 | 3478684 | ||||||||||||||||||||||||
CGST | 10596487 | 8800058 | 1589473 | 20986018 | ||||||||||||||||||||||||
Total | 20283872 | 17058737 | 3042580 | 40385189 | ||||||||||||||||||||||||
CGST | 338238 | 284458 | 50736 | 673432 | SGST | 10596487 | 8800058 | 1589473 | 20986018 | |||||||||||||||||||
SGST | 338238 | 284458 | 50736 | 673432 | ||||||||||||||||||||||||
Total | 22152788 | 18407320 | 3322918 | 43883026 | ||||||||||||||||||||||||
Total | 2423680 | 2038315 | 363553 | 4825548 | ||||||||||||||||||||||||
c) | Date of receipt of direction or | Date of receipt of Notice - April 25,2024 | Date of receipt of Notice - April 25,2024 | Date of receipt of Notice - April 25,2024 | ||||||||||||||||||||||||
order, 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 are as | The grounds and qualification as stated by authorities are as follows: | The grounds and qualification as stated by authorities are as follows: | ||||||||||||||||||||||
violation(s)/contravention(s) | follows: | |||||||||||||||||||||||||||
committed or alleged to be | GST Liability on account of claiming of Block ITC as per section 17(5) | A) GST Liability on account of claiming of Block ITC as per section 17(5) | ||||||||||||||||||||||||||
committed. | GST Liability on account of claiming of Block ITC as per section | of MGST Act for construction of immovable property, Gift Items, Self- | of MGST Act for construction of immovable property, Gift Items, | |||||||||||||||||||||||||
17(5) of MGST Act for construction of immovable property, | consumption items, Elevators and their parts, Interiors Works, Civil | Self-consumption items, Elevators and their parts, Interiors Works, | ||||||||||||||||||||||||||
Construction, Repair and Maintenance of Civil Structures, Self- | Works and Repair and Maintenance. | Civil Works and Repair and Maintenance. | ||||||||||||||||||||||||||
Consumption Items, Gifts Items, Tour Of Employee, Company | ||||||||||||||||||||||||||||
Event, Interior/Architectural Designing, Guest Hotel Stay | B) GST Liability on account of GST not collected and deposited on the | |||||||||||||||||||||||||||
Consideration received in the form of Gift Vouchers. | ||||||||||||||||||||||||||||
e) | Impact on financial, operation or | There is no material impact on the financial position or | There is no material impact on the financial position or operation of | There is no material impact on the financial position or operation of the | ||||||||||||||||||||||||
other activities of the listed entity, | operation of the Company due to the said tax liability and | the Company due to the said tax liability and penalty. The impact is | Company due to the said tax liability and penalty. The impact is limited | |||||||||||||||||||||||||
quantifiable in monetary terms to | penalty. The impact is limited to the extent of tax liability as | limited to the extent of tax liability as ascertained along with interest | to the extent of tax liability as ascertained along with interest and penalty | |||||||||||||||||||||||||
the extent possible. | ascertained along with interest and penalty as aforesaid on the | and penalty as aforesaid on the subsidiary of the Company. | as aforesaid on the subsidiary of the Company. | |||||||||||||||||||||||||
subsidiary of the Company. |
Regd. Office : The Phoenix Mills Ltd., 462 Senapati Bapat Marg, Lower Parel, Mumbai 400 013. Tel : (022) 2496 4307 / 8 / 9
Fax : (022) 2493 8388 E-mail : info@thephoenixmills.com www.thephoenixmills.com
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
The Phoenix Mills Limited published this content on 26 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 April 2024 15:00:36 UTC.