NSEAction(s) initiated or orders passed30 Sept 2026 · 30 Sept 2026, 04:59 pm

Action(s) initiated or orders passed

Le Travenues Technology Limited · IXIGO

✦ AI SummaryRegulatory

Le Travenues Technology Limited has received a Show Cause Notice from the Office of the Assistant Commissioner of Commercial Taxes (Audit) - 3.6, DGSTO-3, Bangalore, Government of Karnataka, alleging contravention of KGST/CGST Act, 2017 and IGST Act, 2017. The Company believes it has a strong case on merits and will submit a comprehensive response to contest the show cause notice.

Analysis Scores

Earnings Impact2/10
Growth Catalyst1/10
Governance Concern1/10
Regulatory Risk8/10
Balance Sheet Risk2/10
Liquidity Impact5/10
Market Sentiment4/10

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Full Announcement

Le Travenues Technology Limited has informed the Exchange about Receipt of Show Cause Notice dated September 29, 2026

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IXIGO_30092026165847_Disclosure_Reg_30_SCN_29092026.pdf

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September 30, 2026 LTTL/L&S/2026-27/09/13 The Listing Department, The Listing Department, National Stock Exchange of India Limited, BSE Limited, Exchange Plaza, C - 1, Block G, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Bandra (E), Mumbai - 400 051 Mumbai - 400 001 Maharashtra, India Maharashtra, India Dear Sir/Madam, Sub : Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Receipt of Show Cause Notice dated September 29, 2026 Ref : Le Travenues Technology Limited (the “Company”) NSE Symbol: IXIGO and BSE Scrip Code: 544192 In compliance with the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “SEBI Listing Regulations”) please note that the Company has received a Show Cause Notice on September 29, 2026, from the Office of the Assistant Commissioner of Commercial Taxes (Audit) - 3.6, DGSTO-3, Bangalore, Government of Karnataka, alleging contravention of KGST/CGST Act, 2017 and IGST Act, 2017. The Company believes it has a strong case on merits. A similar show cause notice for FY 2021-22 on the same issue, involving a demand of approximately ₹3.05 crore was received and informed to the stock exchanges on October 01, 2025, bearing reference no. LTTL/L&S/2025-26/10/01. The issue was dropped by the authority following the Company’s submissions and personal hearing. In view of the nature of the services, the applicable tax treatment and the earlier favourable order, the Company will, in consultation with its tax advisors, submit a comprehensive response to the relevant authority within the prescribed timelines to contest the show cause notice. The requisite details pursuant to Regulation 30 of the SEBI Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026, updated up to January 30, 2026, are enclosed herewith and marked as Annexure A. In respect of the captioned matter, I, the undersigned, state and declare that the information and details provided in Annexure A, in compliance with Regulation 30(13) of the SEBI Listing Regulations, is true, correct and complete to the best of my knowledge and belief. This announcement will also be available on the website of the Company at www.ixigo.com. This is for your information and records. Thank you, For Le Travenues Technology Limited Suresh Kumar Bhutani (Group General Counsel, Company Secretary & Compliance Officer) Annexure A S. No. Particulars Details 1. Name of the listed company Le Travenues Technology Limited 2. Type of communication Show Cause Notice in Form GST DRC-01 received dated September 29, 2026, for the FY 2022- 23 under the provisions of KGST/CGST Act, 2017, IGST Act, 2017 and KGST/CGST Rules (the “SCN”) 3. Date of receipt of SCN received on September 29, 2026, at communication 05:17 P.M. (IST) 4. Authority from whom Office of the Assistant Commissioner of communication received Commercial Taxes (Audit) - 3.6, DGSTO-3, Bangalore, Government of Karnataka 5. Brief summary of the material The Company provides reservation and contents of the communication booking services for bus travel through its received, including reasons for online platform. Being an e-commerce receipt of the communication operator, it collects taxes from customers and discharges the applicable liability at the rate of 5% in compliance with Section 9(5) of the CGST Act. Passenger transportation services through buses are classified under HSN 996422, which attracts GST at 5%. In addition to passenger transport services, the Company is also registered under other HSN codes pertaining to IT-related services and online advertisement services, on which the applicable GST rate is 18%. However, the tax authorities have contended that since the Company is registered under HSN codes that attract GST at 18%, it is also liable to discharge GST at 18% on passenger transportation services through buses, instead of 5%. 6. Period for which FY 2022-23 communication would be applicable, if stated 7. Expected financial implications The aggregate proposed demand is on the listed company, if any ₹237,950,666/- (comprising tax of ₹137,543,738/-, interest of ₹86,652,554/- and penalty of ₹13,754,374/-) S. No. Particulars Details 8. Details of any aberrations/non- As per authority, it is alleged that the compliances identified by the Company has not declared correct tax authority in the communication liability in its GST returns and the differential tax appears recoverable from the Company along with applicable interest u/s 50 and penalty u/s 122(2)(a). 9. Details of any penalty or ₹13,754,374/- restriction or sanction imposed pursuant to the communication 10. Action(s) taken by listed The Company is of the view that the company with respect to the demand proposed by the authority is not communication tenable under the provisions of the Act, as the services provided by the Company qualify as passenger transport services taxable at 5% under Section 9(5) of the CGST Act, 2017, with the Company discharging the applicable GST as an e- commerce operator. The Company believes it has a strong case on merits. A similar show cause notice for FY 2021-22 on the same issue, involving a demand of approximately ₹3.05 crore was received and informed to the stock exchanges on October 01, 2025, bearing reference no. LTTL/L&S/2025-26/10/01. The issue was dropped by the authority following the Company’s submissions and personal hearing. In view of the nature of the services, the applicable tax treatment and the earlier favourable order, the Company will, in consultation with its tax advisors, submit a comprehensive response to the relevant authority within the prescribed timelines to contest the show cause notice. 11. Any other relevant information Nil