TBO Tek Faces INR 89 Lakh GST Demand Notice for FY 2017-18

Travel Boutique Online (TBO Tek), a B2B travel portal, has received a show cause notice from the Deputy Commissioner of State Tax (SGST), Gurugram (East), regarding a tax discrepancy for the financial year 2017-18.

The notice, issued in the form of DRC-01, details a shortfall in tax payments amounting to INR 89.12 lakh due to mismatches between GSTR-1 and GSTR-3B filings. The demand includes the differential tax amount, along with interest and penalties, totaling INR 89,12,908.

The notice pertains to discrepancies identified in the company’s GST filings, requiring TBO Tek to address the short payment issue.

TBO Tek made a notable debut on the public market on May 15, listing at INR 1,426 on the NSE, a 55% premium over the issue price of INR 920. On the BSE, the stock was listed at INR 1,380, reflecting a 50% premium over the issue price.

The travel technology firm has been expanding rapidly, with recent strategic moves including the appointment of Gerardo Del Rio, the former CFO of DidaTravel, as president of its international business. This appointment is part of TBO Tek’s broader strategy to drive global growth through acquisitions and the launch of new brands targeting international markets.

Source : https://www.infomance.com/news/tbo-tek-faces-inr-89-lakh-gst-demand-notice-for-fy-2017-18/