The Indian Hotels Company Limited has received a notice of assessment by the VAT department in connection with VAT Assessment of Taj Exotica Resort and Spa, Andaman for financial year 2017-18 to 2020-21, according to the company’s exchange filing.
The department has levied penalty amounting to ₹3,25,000 for furnishing quarterly VAT returns after the prescribed due date.
The VAT demand is on account of furnishing quarterly VAT returns after the prescribed due date.
The Company is likely to file an appeal challenging the notice of assessment. ” The company is evaluating filing an appeal against the aforesaid order on merit,” Indian Hotels Company said in the exchange filing.
The company has received notice of assessment on December 30, 2024.
The disclosure was to the exchange was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations).