Speciality Restaurants Receives ₹1.8 Cr Tax Demand Notice

Speciality Restaurants Ltd has received a Show Cause-cum-Demand Notice from the Central Tax office for ₹1,80,43,529. The notice pertains to alleged short payment of tax under RCM and irregular availment of Input Tax Credit (ITC) for the financial years 2021-22 to 2023-2024. The demand includes applicable interest and a penalty equivalent to the tax amount. The company is consulting with tax advisors and evaluating legal remedies. Speciality Restaurants stated there is no immediate impact on its financials or operations.