Tax & Penalty15 Jun 2026, 05:50 pm
Thomas Cook India Faces ₹2.03 Lakh Tax Demand
AI Summary
Thomas Cook (India) Ltd has received an order from the Commercial Tax Officer, Chennai, confirming a demand of INR 13,94,644 on 'ITC wrongly adjusted against the tax liability for the 5% Turnover' tax. The order also levies interest of INR 5,37,835 and a penalty of INR 1,39,464 under the CGST Act, 2017. The total demand amounts to INR 20,72,043. The company stated that it is taking necessary steps to appeal the order and believes it has a strong case on merits, with no material financial or operational impact anticipated.
Key Highlights
- Received tax demand order for INR 13.94 Lakhs.
- Additional interest and penalty total INR 6.77 Lakhs.
- Total demand stands at INR 20.72 Lakhs.
- Company plans to appeal the order.
- No material financial or operational impact expected.
Price Impact
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