Taj GVK Hotels & Resorts Limited has informed the Exchange about Action(s) taken or orders passed
TAJGVK · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Taj GVK Hotels has informed stock exchanges about an order passed by the Office of the Commissioner of Customs & Central Tax, Appeals-I, Hyderabad, levying a total demand, interest, and penalty of Rs. 42,13,881 (around Rs. 42.14 lakhs) for the period 1 April 2015 to 30 June 2017. The demand relates to a mismatch in the percentage of abatement claimed on Service Tax for three of its hotels — Taj Krishna, Taj Deccan, and Taj Banjara. The order was received on 9 April 2025. The company has stated there is no impact on its operations or other activities, and it is in the process of filing an appeal against the order.
The financial impact is limited to about Rs. 42.14 lakhs, which is small relative to the company's size, and operations remain unaffected. However, the outcome of the appeal could marginally affect financials if the demand is upheld.