Taj GVK Hotels & Resorts Limited has informed the Exchange about Action(s) initiated or orders passed
TAJGVK · price
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Awaiting price reaction for this filing.
Taj GVK Hotels & Resorts has received an order from the Superintendent of GST and Central Excise in Chennai demanding Rs. 17.54 lakh in tax plus Rs. 1.93 lakh in penalty for the FY 2021-22 assessment of its Taj Club House hotel. The demand relates to excess input tax credit claimed, ineligible ITC from non-compliant suppliers, short payment of GST on reverse charge, and tax reconciliation gaps. The company says there is no impact on operations and is filing an appeal against the order. The total financial impact, including applicable interest, could be higher than the demand and penalty amounts disclosed.
The financial hit is small relative to the company's size and will not affect hotel operations. Investors should watch the appeal outcome, but this is a routine tax dispute with a limited one-time monetary impact.