Chalet Hotels Ltd. Receives GST Demand Order of Rs.107.02 Million for FY 2019-20

Key Highlights

• Chalet Hotels Ltd. received an order from the GST Department – Maharashtra State under section 74 of the Goods and Services Tax Act 2017.
• The order comprises a Tax Demand of Rs.33.07 million, interest of Rs.40.88 million and penalty of Rs.33.07 million.
• The demand pertains to mismatch/excess of ITC credit and block ITC for FY 2019-20.
• The Company believes that the order is contestable and will consider taking appropriate legal recourse.
• The business operations of the Company continue as usual and are not impacted.