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 1.4 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 has received an order from the Central GST authorities in Delhi demanding Rs 64.4 lakh in service tax for the period July 2012 to June 2017, along with an equal amount as penalty and Rs 10,000 in additional penalty, plus applicable interest. The demand relates to short payment of service tax on the abated value of service charges collected from customers. The total financial exposure is roughly Rs 1.34 crore (tax + penalty) plus interest. The company has stated there is no material impact on its operations and is preparing to file an appeal against the order.
The amount is small relative to the company's size, so the direct financial hit is limited, but the order highlights a historical tax compliance issue the company will need to defend in appeal. Shareholders should watch for the appeal outcome, though near-term business operations remain unaffected.