The Phoenix Mills Limited — Others, 19-11-2024: Action(s) initiated or orders passed

Alyssum Developers Private Limited, a subsidiary of The Phoenix Mills Limited, has received a tax liability notice from GST authorities for the period April 2020 to March 2021, totaling ₹1.19 crore. This includes amounts for CGST, SGST, and IGST, along with penalties and late fees. The subsidiary plans to contest the assessment.

The financial impact on the company appears minimal as the tax liability primarily affects the subsidiary. Investors may view this development with a neutral impact, emphasizing the company's commitment to addressing potential risks while maintaining operational stability.