Ixigo receives ₹23.80 crore GST show-cause notice for FY 2022-23
As filed · Le Travenues Technology Limited has informed the Exchange about Receipt of Show Cause Notice dated September 29, 2026
What happened
FactLe Travenues Technology received a GST show-cause notice from Karnataka tax authorities alleging that its bus passenger transportation services should be taxed at 18% rather than 5%. The aggregate proposed demand is ₹237,950,666, including tax, interest and penalty; the company said it believes it has a strong case and will contest the notice.
Why it matters
CapitSignal interpretationRegulatory action carries direct monetary penalties and can restrict how the business operates until it is resolved.
What management said before
Prior statements by this company that CapitSignal has recorded changing.
Margins
RevisedContribution margin grew to 144.94 crores, up 13%, with contribution margin percentage at 40.6% against 40.5% last year.
Adjusted EBITDA, excluding other income and ESOP costs, was INR 29.24 crores, compared to INR 31.34 crores, a decline of 7%.
Change
FactImplication
CapitSignal interpretationWatch next
Fact- Quantum of penalty and whether it is appealed
- Any restriction placed on operations or licences
- Timeline given by the regulator
- We are closer to product market fit on hotels than ever before and we are investing for growth and customer ex (management committed by FY27)
- We are using uncertain times to strengthen our core, build market share, invest in hotels and build an AI-nati (management committed by FY27)
Evidence
- Le Travenues Technology Limited has informed the Exchange about Receipt of Show Cause Notice dated September 29, 2026(opens the original filing in a new tab)
- Earlier statement · Q1 FY27
- Latest statement · Q1 FY27
- Earlier statement · Q1 FY27
How CapitSignal classified this
- Reasoning:
- The notice creates a potential tax, interest and penalty exposure for FY 2022-23 and challenges the GST treatment of the company's bus booking services. The company cited a favourable outcome in a similar FY 2021-22 matter, but the current notice remains subject to its response and the authority's decision.
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%