TGB Banquets And Hotels Limited — Important, 20-02-2025: General Updates

A demand order has been issued against TGB Banquets and Hotels Limited by the Joint Commissioner of Central Goods & Services Tax in Ahmedabad. The order pertains to various GST issues, with an estimated financial impact of ₹5.16 Crore, which includes tax amounts, interest, and penalties. The company believes that the demands are not maintainable and is exploring options, including the possibility of filing appeals against the order. While this creates a potential risk, the company’s assessment and planned course of action could provide an opportunity for investors to monitor the situation closely as it develops.