TAJ GVK Hotels & Resorts Limited has issued a clarification to stock exchanges regarding a recent GST-related disclosure, confirming that the matter represents a non-material event under SEBI listing regulations.

Clarification Details

On January 13, 2026, the company filed an additional disclosure with the Bombay Stock Exchange and National Stock Exchange to provide clarity on a previous announcement. The clarification addressed a GST order that was initially disclosed on January 12, 2026.

Regulatory Compliance

The company emphasized that the GST order disclosure was made as a general announcement rather than indicating any significant corporate development. J Srinivasa Murthy, CFO and Company Secretary, signed the clarification document, confirming compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The clarification specifically stated that the announcement was not a material event and represented routine disclosure practices. This type of communication helps maintain transparency with investors while distinguishing between significant corporate developments and routine regulatory matters.

Corporate Communication

The company addressed both major stock exchanges through formal correspondence, ensuring proper documentation and regulatory compliance. The clarification serves to prevent any potential misinterpretation of the original GST order disclosure and maintains clear communication standards with market participants and regulatory authorities.

TAJ GVK Hotels & Resorts Limited has received a significant GST demand order from the Superintendent of GST and Central Excise, Chennai, totaling ₹17.54 lakhs along with penalties of ₹1.94 lakhs for assessment year 2021-22. The company disclosed this development through a regulatory filing under SEBI Listing Regulations on January 12, 2026.

GST Demand Breakdown

The GST order, dated December 31, 2025, and received by the company on January 9, 2026, covers multiple compliance violations identified during the scrutiny of returns for FY 2021-22. The demand encompasses four primary areas of non-compliance:

Key Compliance Issues

The largest component of the demand relates to excess Input Tax Credit (ITC) claims totaling ₹14.36 lakhs in IGST, where the company availed ₹1.46 crores in GSTR-3B against only ₹1.32 crores available in GSTR-2A. Additionally, the company failed to pay GST under Reverse Charge Mechanism (RCM) amounting to ₹1.19 lakhs and claimed ineligible ITC from suppliers who had not filed their GSTR-3B returns.

Penalty Structure

The penalty breakdown reflects the severity of different violations:

Company's Response and Impact

TAJ GVK Hotels & Resorts has indicated that it is in the process of filing an appeal against the GST order. The company's management has clarified that while the financial impact will be limited to the disclosed amounts, there will be no adverse effect on the company's operations or other business activities.

The order pertains specifically to the company's Taj Club House hotel operations in Chennai and covers assessment issues primarily related to ITC reconciliation discrepancies and compliance gaps in GST return filings during the 2021-22 financial year.

Regulatory Context

The GST demand order was issued under Section 73 of the Tamil Nadu GST Act, 2017, which deals with determination of tax not paid or short paid for reasons other than fraud. The company has disclosed this information in compliance with Regulation 30 of SEBI Listing Regulations, which mandates disclosure of material events that could impact the company's operations or financial position.