NIFTY23,4060.33%
SENSEX74,3460.41%
BANKNIFTY54,1860.88%
NIFTY IT29,3845.57%
PHARMA24,0870.33%
AUTO26,0930.05%
FMCG48,1241.01%
METAL13,5350.17%
REALTY762.601.39%
ENERGY40,1970.02%
NIFTY23,4060.33%
SENSEX74,3460.41%
BANKNIFTY54,1860.88%
NIFTY IT29,3845.57%
PHARMA24,0870.33%
AUTO26,0930.05%
FMCG48,1241.01%
METAL13,5350.17%
REALTY762.601.39%
ENERGY40,1970.02%

Tax Demand of Rs 124.65 Crore Issued to SpiceJet Over Non-Filing of GST Returns

The Goods and Services Tax (GST) department has issued a tax demand of Rs 124.65 crore to struggling airline SpiceJet for non-filing of GST returns for the past several months. According to an official, the GST department has initiated action against the airline for failing to file GST returns on time and has issued a show-cause notice to cancel the company's GST registration.

The GST department has alleged that SpiceJet consistently committed irregularities in filing GST returns and submitted them late. Consequently, a provisional assessment was filed under Section 62 of the CGST and SGST Act, 2017. Based on this, a total tax demand of Rs 124.65 crore has been assessed for various periods. The demand details released by the department show that the amount has been fixed at Rs 44.44 crore for the month of November, Rs 43.79 crore for the month of December, Rs 12.19 crore for the month of January, Rs 12.10 crore for the month of February, and Rs 12.12 crore for the month of March.

MonthDemand Amount (in Crore)
November44.44
December43.79
January12.19
February12.10
March12.12

Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data

GST officials stated that a show-cause notice was issued on May 25, 2026, regarding the cancellation of the company's GST registration. Despite this, the company has yet to file its pending returns. The officials warned that if SpiceJet does not promptly file its pending returns and ensure compliance with its statutory obligations under the GST law, further action will be taken as per the rules.

Despite several attempts, officials of SpiceJet could not be contacted. The airline's failure to comply with GST regulations has resulted in a significant tax demand, highlighting the importance of timely filing of GST returns for businesses.

Investor Takeaway

Investors should be cautious of airline companies with poor financial management and compliance issues.

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