Phoenix Mills : April 26 2024 Disclosure under Regulation 30 - GST Notice

Corp. Office: Shree Laxmi Woolen Mills Estate, 2nd Floor,

R.R. Hosiery, Off Dr. E. Moses Rd. Mahalaxmi, Mumbai - 400 011

Tel: [phone] Fax : [phone]

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 : [phone] / 8 / 9

Fax : [phone] E-mail : [e-mail] 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: [phone] Fax : [phone]

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 : [phone] / 8 / 9

Fax : [phone] E-mail : [e-mail] 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: [phone] Fax : [phone]

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 : [phone] / 8 / 9

Fax : [phone] E-mail : [e-mail] www.thephoenixmills.com