Lemon Tree Hotels Limited has informed the Exchange about Action(s) taken or orders passed
LEMONTREE · price
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On the reaction day the stock moved 0.7 pts less than Nifty Smallcap 250 and 0.9 pts less than its Hotels & Resorts peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Lemon Tree Hotels and its wholly-owned subsidiary Oriole Dr. Fresh Hotels have received orders from the Office of the Principal Commissioner of CGST, Delhi South Commissionerate, demanding service tax, interest, and penalty for periods between 2012 and 2017. The issues relate to short payment of service tax on abated value of service charge collected from customers, differences between revenue in balance sheets and ST-3 returns, and non-payment of service tax on foreign currency expenditure. Total tax demand is approximately Rs 51.5 lakh, with additional penalties of around Rs 49.4 lakh across the three orders. The company has stated there is no material financial impact beyond these amounts and is in the process of filing appeals against all orders.
The combined tax and penalty exposure of roughly Rs 1 crore is small relative to the company's size and is unlikely to affect operations or stock price. However, prolonged litigation could result in additional interest accruals if appeals are unsuccessful.