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“This is to inform you that the Directorate General of GST Intelligence conducted a search under subsection (2) of Section 67 of the CGST Act, 2017, at the premises of Treehouse Hotel Club and Spa, Bhiwadi (a unit of Ashiana Housing Limited), from 11:50 AM on 05.12.2024 to 4:15 PM on 06.12.2024,” Ashiana Housing said in a regulatory filing.
During the investigation, DGGI officials identified an error in the computation of GST liability. The issue arose from an incorrect application of GST rates on food and beverage services billed by the restaurant within the hotel.
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Recognising the mistake, Ashiana Housing has proactively deposited ₹1.5 crore as an interim payment using the DRC-03 mechanism. The company has assured authorities that a thorough review and reconciliation of records is ongoing to determine the final GST liability. Any additional dues identified during this process will be promptly discharged.
“As a proactive measure, the company has made an interim payment of ₹1.5 crore through DRC-03. A thorough review and reconciliation of records are currently underway to ascertain the final liability, if any. The company has assured the Directorate General of GST Intelligence that any additional
the amount found payable upon completion of this review will be discharged without delay,” Ashiana Housing said.
Ashiana Housing said it remains committed to addressing any remaining discrepancies transparently and responsibly.
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“No significant impact on financial or operational performance has been observed. As regards the monetary implications, the company is in the process of reviewing and reconciling its records. Any additional liability identified will be settled promptly,” it added.
Established in 1979, Ashiana Housing primarily focuses on offering a premium lifestyle across its over 50 projects in the space of senior living, premium homes, and kid-centric homes.
Shares of Ashiana Housing Ltd ended at ₹331.85, down by ₹0.35, or 0.11%, on the BSE.
(Edited by : Shoma Bhattacharjee)
