Chalet Hotels Limited Receives an Order from GST Department - Maharashtra on April 29, 2024 Under Section 73 of Goods and Services Tax Act 2017, with a Demand Aggregating to INR 1.88 Million

Chalet Hotels Limited received an Order from GST Department - Maharashtra on April 29, 2024 under Section 73 of Goods and Services Tax Act 2017 (`the Act'), with a demand aggregating to INR 1.88 Million (including interest of INR 0.94 Million and penalty of INR 0.09 Million). The said demand pertains to GST Audit for the period April 1, 2018 to March 31, 2019. The Company believes that the said demand is not maintainable and is in the process of filing an appeal against the aforesaid Order.

The business operations of the Company continue as usual and are not impacted.