EaseMyTrip Receives INR 17 Lakh GST Penalty Notice

SUMMARY

The company received a penalty notice of INR 17.35 Lakh for allegedly violating GST norms

It received the penalty order from Delhi's Sales Tax Officer

As per the authorities, the listed company has availed ineligible input tax credit (ITC) for the financial year 2020-21

Travel tech major Easemytrip has received a penalty notice of INR 17.35 Lakh for allegedly violating GST norms.

“.. it is hereby informed that the company has received an order dated February 24, 2025, from the Sales Tax Officer Class II/AVATO Delhi, State/UT: Delhi,” the company said in a filing.

As per the authority, the listed company has availed ineligible input tax credit (ITC) for the financial year 2020-21.

EMT has been penalised under provisions of Delhi Goods and Services Act, 2017, Central Goods and Service Tax Act, 2017 and the Integrated Goods and Service Tax Act, 2017.

Besides, the company is looking to appeal against the order.

The development comes a day after the company bagged Madhya Pradesh government’s first inter-city electric buses tender via its subsidiaries – YoloBus and Easy Green Mobility. The company plans to deploy 500 buses in 2025 and expand to 1,000 buses by 2026.

Earlier this month, EaseMyTrip also incorporated a wholly owned subsidiary, Easy Trip Planners Do Brasil Ltda, in Brazil.

On the financial front, EaseMyTrip posted nearly 26% crash in its profit after tax (PAT) to INR INR 34.02 Cr in the third quarter of FY25 from INR 45.68 Cr in the year-ago quarter amid a degrowth in its top line. Also, its operating revenue trimmed down by 6% to INR 150.56 Cr in the December quarter from INR 160.78 Cr in the same quarter last year.

The listed travel tech company has recently seen a big shuffle in its top deck after its former chief executive officer Nishant Pitti stepped down from his position last month. Prior to his resignation, Pitti diluted 1.41% stake, or 5 Cr shares, in the company.

This is not the first time that Pitti offloaded shares in the company. In September 2024, he sold 24.65 Cr shares of the startup via multiple block deals for INR 920 Cr.

The company also recently secured approval from its board to raise INR 234.03 Cr from seven investors through a preferential issue of equity shares.

The shares of EaseMyTrip closed at INR 12.30 apiece, 2.16% up from its previous close during the trading session on BSE yesterday (February 25).