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An announcement from Lemon Tree Hotels Ltd. ( (IN:LEMONTREE) ) is now available.
Lemon Tree Hotels Limited has announced that both the company and its wholly-owned subsidiary, Oriole Dr. Fresh Hotels Private Limited, have received orders for the recovery of service tax, interest, and penalties under the CGST Act, 2017. The orders, issued by the Office of the Principal Commissioner of Central Goods & Service Tax, Delhi South Commissionerate, pertain to alleged short payments of service tax on abated service charges collected from customers during the periods of April 2017 to June 2017 and July 2012 to June 2017. The company is actively pursuing legal remedies and plans to appeal against these orders. Despite the financial implications of the tax demands, the company states that there is no material impact on its financial operations beyond the specified amounts.
More about Lemon Tree Hotels Ltd.
Lemon Tree Hotels Limited operates in the hospitality industry, primarily focusing on providing hotel accommodations and related services. The company is known for its chain of hotels across India, catering to a wide range of customers, including business and leisure travelers.
Average Trading Volume: 157,072
Current Market Cap: 108.4B INR
Learn more about LEMONTREE stock on TipRanks’ Stock Analysis page.