TRAVELFOOD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Travel Food Services Ltd received a rectification order dated May 21, 2026 from the Office of the Commissioner of CGST and Central Excise, Mumbai Central. The order substantially reduced an earlier tax demand and penalty from INR 40.20 crore to INR 14.40 crore, providing significant relief to the company. The original demand stemmed from alleged mismatched Input Tax Credit (ITC) variances between returns, GST portal, and GSTR 9 filings, plus excess ITC availment. The company states this demand has no material impact on its financials or operations. However, the company believes the order did not fully consider its submissions and is evaluating further legal remedies, including potential appeal.
The reduction in tax demand from INR 40.20 crore to INR 14.40 crore is a positive development for the company, though the matter remains open as the company may pursue further appeals. The stock is unlikely to see significant movement as the company has already stated the financial impact is immaterial.