Schloss Bangalore Limited has informed the Exchange regarding 'Intimation Under Para B Of Part A Of Schedule III Read With Regulation 30 Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015'.
THELEELA · price
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Schloss Bangalore Limited, which operates The Leela brand of luxury hotels, informed the stock exchanges that its material subsidiary Tulsi Palace Resort Private Limited (TPRPL) has received show cause notices from the CGST Audit Commissionerate in Jaipur. The notices, dated June 9, 2025, allege wrongful adjustment of tax liability in Form GSTR-9C for FY 2021-22 and 2022-23, and non-payment of IGST on import of services under reverse charge for FY 2018-19 to FY 2022-23. The aggregate tax demand raised is ₹4.66 crores (excluding interest and penalty). TPRPL intends to file an appropriate response before the adjudicating authority.
The company has stated that these notices do not have any material impact on its financial position, operations, or other activities. For shareholders, this is a relatively minor regulatory matter involving a subsidiary, with a manageable tax demand amount compared to the size of the business.