Company contests GST notices over input credit and bus tax rate
IXIGO · price
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On the reaction day the stock moved 0.4 pts less than Nifty Microcap 250 and 0.6 pts more than its Tour Travel Related Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Haryana and Karnataka tax authorities issued GST notices for FY2019-20 and FY2021-22, alleging excess input tax credit and 18% GST on bus passenger services instead of 5%. The stated financial implications are ₹94.69 lakh and ₹3.05 crore. The company, supported by a tax adviser, plans to file responses and contest the notices.
Potential exposure totals ₹3.997 crore, with interest and penalties cited. The company is contesting the claims, so the final amount and stock impact remain uncertain.