Thomas Cook (India) Limited has informed stock exchanges about receiving a tax demand order from the Haryana tax authorities. The company disclosed this development through a regulatory filing under SEBI Listing Regulations on December 30, 2025.

Tax Demand Details

The Excise and Taxation officer of State Tax, SGST, Gurugram, Haryana has issued an order confirming various financial obligations against the company:

The penalty has been levied under Section 73 of the CGST/HGST Act 2017, while the interest charges fall under Section 50 of CGST Act 2017.

Company's Response

Thomas Cook India has indicated it will challenge the tax authority's decision through proper legal channels. The company stated it is taking necessary steps to appeal against the order before the appropriate authority and believes it has a good case on merits.

Financial Impact Assessment

According to the company's disclosure, there is no material financial or operational impact expected on the entity from this tax demand. The management appears confident about its position and the potential for a favorable outcome through the appeals process.

Regulatory Compliance

The disclosure was made in accordance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, and SEBI Master Circular dated November 11, 2024. The intimation has also been uploaded on the company's official website for stakeholder access.

Thomas Cook India has received a penalty order of ₹2,80,175.00 under the Central Goods and Services Tax (CGST) Act 2017 from tax authorities. The order was received on December 29, 2025, marking a regulatory development for the travel and tourism services company.

Penalty Details

The penalty order was issued by the Deputy Commissioner, Delisle Road 701, Mazgaon, Maharashtra under Section 74 of the CGST Act 2017. The following table summarizes the key details of the penalty order:

Company's Response

Thomas Cook India has indicated its intention to challenge the penalty order. The company plans to file a submission against the order, describing the penalty as erroneous. This suggests the company disputes the basis for the penalty and intends to seek redressal through proper legal channels.

Financial Impact Assessment

According to the company's disclosure, there is no material financial or operational impact on the entity from this penalty order. The relatively modest amount of the penalty in relation to the company's overall operations appears to support this assessment. The company's statement indicates that normal business operations remain unaffected by this regulatory matter.

Regulatory Context

Section 74 of the CGST Act 2017 typically deals with tax recovery and penalty provisions for various contraventions under the GST framework. The specific nature of the alleged violation has not been detailed in the company's disclosure, though the company's characterization of the penalty as "erroneous" suggests it contests the tax authority's findings.