GST collections in March surge by 9.9% YoY to Rs 1.96 lakh crore
The Goods and Services Tax (GST) collection for the month of March surged by 9.9% YoY to Rs 1.96 lakh crore, data from the government said.
Domestic airline SpiceJet said here on Friday that it has cleared all GST dues of around Rs 71 crore, days after raising Rs 3,000 crore through Qualified Institutional Placement (QIP).
“SpiceJet has cleared all its Goods and Services Tax (GST) dues, demonstrating its commitment to maintaining financial discipline and regulatory compliance,” said the airline in a statement. Post the announcement, SpiceJet’s shares rose at 11 am on BSE trading 1% higher at Rs 62.42 apiece.
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“We are proud to have cleared all GST dues, a significant step towards reinforcing our commitment to financial discipline and regulatory compliance,” said Ajay Singh, the airline’s Chairman & Managing Director.
“These developments reflect our commitment to providing exceptional service to our passengers while positioning ourselves strategically for the future,” he added.
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Earlier this month, SpiceJet revealed that it did not pay statutory dues amounting to nearly Rs 427 crore between April 2020 and August 2024 due to its constrained financial position. The unpaid dues include Rs 219.8 crore in tax deducted at source (TDS), Rs 71.33 crore in goods and services tax (GST), and Rs 135.47 crore towards provident fund (PF) contribution.
It had disclosed that 36 of its 58 aircraft are grounded, primarily due to alleged default in payments to aircraft lessors, financial difficulties affecting aircraft maintenance, and the unavailability of components and spare parts.
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