Quick Summary
Budget airline SpiceJet has taken a crucial financial step by settling all its Goods and Services Tax (GST) dues on Friday, just one day after resolving all outstanding salary arrears for its employees. As per reports, this significant move follows the airline's successful fundraising of ₹3,000 crore through a Qualified Institutional Placement (QIP) earlier this week. The QIP attracted investment from several prominent institutional players, including Goldman Sachs (Singapore), Morgan Stanley
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)
BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)
3 Months PLAN
999
(Excl. of GST ₹179)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience.
FAQ :
Yes, SpiceJet has settled all its Goods and Services Tax (GST) dues.
SpiceJet successfully raised ₹3,000 crore through a Qualified Institutional Placement (QIP).
SpiceJet had an outstanding tax liability of approximately ₹220 crore related to tax deducted at source (TDS) from employee salaries.
Prominent institutional investors such as Goldman Sachs (Singapore), Morgan Stanley Asia, Tata Mutual Fund, and Discovery Global Opportunity Ltd. invested in SpiceJet's QIP.
Yes, SpiceJet's market share has declined from 5.6% in January to 2.3% by August.
CAclubindia
