Tamil Nadu Tax Tribunal Dismisses Speciality Restaurants VAT Petitions
SPECIALITY · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The Tamil Nadu Sales Tax Appellate Tribunal has dismissed all six rectification petitions filed by Speciality Restaurants Limited. The petitions sought to revise the applicable VAT rate on food and non-alcoholic beverages served at its restaurants for assessment years 2006-07, 2007-08 and 2008-09. The Tribunal found no error apparent on record and upheld its earlier orders from 2015 and 2017. The company had already deposited Rs 1,71,68,672 (about Rs 1.72 crore) earlier, so there is no fresh cash flow impact. Operations remain unaffected. The company is evaluating further legal options with its tax advisors.
No immediate cash flow hit as amount already deposited, but final tax liability of about Rs 1.72 crore stands affirmed. Watch for any appeal or further legal action.