Thomas Cook receives GST demand order of ₹13,94,644
Thomas Cook (India) Limited received an order from the Commercial Tax Officer, Chennai, confirming a tax demand of ₹13,94,644 for ITC wrongly adjusted against tax liability. The order, dated June 11, 2026, includes interest of ₹5,37,835 and a penalty of ₹1,39,464 under the CGST Act 2017. The company stated it will appeal the order and believes it has a strong case on merits, reporting no material financial or operational impact.
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Thomas Cook (India) Limited received an order from the Commercial Tax Officer, Chennai, confirming a tax demand of ₹13,94,644 regarding the adjustment of Input Tax Credit (ITC) against tax liability. The order, dated June 11, 2026, was received by the company on June 15, 2026, and pertains to the 5% Turnover tax under the Central Goods and Services Tax (CGST) Act 2017 and the Tamil Nadu Goods and Services Tax (TGST) Act 2017.
The regulatory action involves a demand of ₹13,94,644 for ITC wrongly adjusted against tax liability. Additionally, the authority levied interest of ₹5,37,835 and a penalty of ₹1,39,464 under Section 50 and Section 73 of the CGST Act 2017 respectively. The penalty was specifically imposed under Section 73 of the CGST/TGST Act 2017.
The company disclosed that it is taking necessary steps to appeal against the order before the appropriate authority. Management stated that it believes it has a good case on merits regarding the demand. Consequently, Thomas Cook reported that there is no material financial or operational impact on the entity resulting from this order.
The intimation was submitted to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was made by Amit J. Parekh, Company Secretary & Compliance Officer.
| Particulars | Details |
|---|---|
| Authority | Commercial Tax Officer, Group-IX, Intelligence-I, Chennai, Tamil Nadu - 600006 |
| Nature of Action | Order confirming demand for ITC wrongly adjusted, levying interest and penalty |
| Tax Demand | ₹13,94,644 |
| Interest Levied | ₹5,37,835 |
| Penalty Levied | ₹1,39,464 |
| Relevant Sections | Section 50 and Section 73 of CGST Act 2017 |
| Date of Order | June 11, 2026 |
| Date of Receipt | June 15, 2026 |
| Financial Impact | No material financial or operational impact |
Historical Stock Returns for Thomas Cook
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +3.17% | -1.40% | +17.44% | -23.68% | -31.93% | +77.87% |
What is the expected timeline for the appeal process, and when might a resolution be reached?
Could this tax dispute indicate a broader review of Thomas Cook's past ITC claims by tax authorities?
How might the outcome of this appeal influence the company's future tax compliance and reporting strategies?
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