GST officials say a show-cause notice regarding the cancellation of SpiceJet’s GST registration was issued on May 25, 2026. Despite this, the company has yet to file its pending returns.
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The GST department has demanded ₹124.65 crore in taxes from the airline SpiceJet , citing its failure to file GST returns for several months. According to a report by news agency PTI, an official said the action was initiated against the airline for failing to file its GST returns on time. The GST department has issued a show-cause notice to cancel the company’s GST registration.
According to the GST department, persistent irregularities were observed in the filing of GST returns by SpiceJet. The returns were submitted late. Consequently, a provisional assessment was made under Section 62 of the CGST and SGST Act, 2017. Based on this, a total tax demand of ₹124.65 crore has been assessed for various periods.
How much tax demand for which month
According to the demand details released by the department, the tax demand for the month of November 2025 is ₹44.44 crore. Similarly, the tax demand for December 2025 is ₹43.79 crore, January 2026 is ₹12.19 crore, February 2026 is ₹12.10 crore and March 2026 is ₹12.12 crore.
According to PTI, GST officials said 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. If SpiceJet does not immediately file its pending returns and ensure compliance with its statutory obligations under the GST law, further action will be taken as per the rules.
SpiceJet shares may fall on Monday
This new problem is expected to cause a major fall in SpiceJet shares on Monday, June 1. The stock closed at Rs 12.75 on the BSE on Friday, May 29. It has fallen by more than 70 percent in one year and about 60 percent in the year 2026 so far. The stock has weakened by 20 percent in 3 months. The share price is down by about 73 percent from its 52-week adjusted high. The company’s market cap is more than Rs 1900 crore. The promoters held 24.19 percent stake in SpiceJet at the end of March 2026.
The company has not yet released its results for the January-March 2026 quarter. SpiceJet reported a consolidated net loss of ₹261.38 crore in the October-December 2025 quarter. A year earlier, the company had a profit of ₹20.43 crore. Consolidated revenue from operations increased 14 percent year-on-year to ₹1,408 crore, compared to ₹1,237 crore in the December 2024 quarter.
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