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Chalet Hotels Ltd. ( (IN:CHALET) ) has issued an announcement.
Chalet Hotels Limited has disclosed that it received an order from the Maharashtra State GST Department demanding Rs.160.02 million, including interest and penalties, related to alleged mismatches and excess claims in input tax credit, GST liability on employee uniforms and shoes, and reversal of ineligible or blocked input tax credit linked to construction activities for FY 2018-19. The company considers the tax orders contestable and plans to pursue appropriate legal remedies, while emphasizing that there is no significant financial impact and that its business operations continue unaffected, limiting immediate implications for its stakeholders.
More about Chalet Hotels Ltd.
Chalet Hotels Limited is an Indian hospitality company that develops, owns and operates high-end hotels and related assets, with a significant presence in Mumbai’s Bandra Kurla Complex and other key urban business districts. It focuses on upscale and luxury properties catering primarily to business and leisure travellers in major metropolitan markets.
Average Trading Volume: 14,393
Technical Sentiment Signal: Buy
Current Market Cap: 188.7B INR
For a thorough assessment of CHALET stock, go to TipRanks’ Stock Analysis page.