Yatra Online in 2026: Nasdaq notice and GST cases

Why Yatra Online’s latest disclosures matter

Yatra Online has flagged two separate compliance-related threads that investors tend to track closely: stock exchange listing requirements and ongoing indirect tax proceedings. The company disclosed that it received a Nasdaq notice related to its minimum bid price rule. Separately, it outlined multiple GST audits, notices, and show-cause proceedings across several states, with some matters closed and others still pending.

The updates were presented alongside other corporate disclosures, including promoter selling and a board meeting schedule for financial results. While these items are not unusual for a company operating across several jurisdictions, the volume of proceedings and the Nasdaq timeline provide clear milestones for the market.

Nasdaq notice: minimum bid price deficiency

Yatra Online said it received a notification from Nasdaq on June 25, 2026. The notice stated that the company failed to maintain the minimum closing bid price of $1.00 per share during the period from May 12 to June 24, 2026. Under Nasdaq rules referenced in the disclosure, the company has 180 calendar days to regain compliance.

The compliance window runs until December 22, 2026. To regain compliance, Yatra Online must maintain a bid price of at least $1.00 per share for 10 consecutive business days. The disclosure did not provide additional details on any actions planned by the company, beyond stating the requirement and timeline.

Promoter entity discloses sale of about 1.8%

The company also informed the stock exchange about receipt of a disclosure from a promoter entity, THCL Travel Holding Cyprus Limited. The disclosure related to sale of around 1.8% shares. The document excerpt does not specify the sale date, price, or the post-transaction holding, but it confirms the company received the intimation.

Such promoter transactions are typically watched for their signalling effect, but the disclosure here is limited to the percentage sold and the promoter entity name.

GST: an older show-cause notice citing ₹14.81 crore

Among the indirect tax matters listed, Yatra Online said it had received a similar notice for the period April 2015 to June 2017. The aggregate value of concern in that show-cause notice was stated as approximately ₹14.81 crore (excluding interest and penalties). The company said its reply to the show-cause notice was filed on June 29, 2018, before the Commissioner of GST, Gurugram.

The disclosure does not state the final outcome for this particular notice in the excerpt provided, but it clearly records the period involved, the magnitude, and the date of the company’s reply.

Haryana GST audit for FY2019-20 results in ₹3.64 crore demand

For FY2019-20, Yatra Online said it underwent a Departmental GST Audit under Section 65 by the Haryana Tax Department. The audit was initiated via Form ADT-01 on January 11, 2024. The company said that after an audit report dated May 28, 2024, and multiple personal hearings through March 2026, it provided reconciliation for ITC claims and vehicle sales.

The department then issued an adverse order on March 30, 2026, creating a total demand of ₹3.64 crore (including interest and penalty). The disclosure does not add any further detail on subsequent appeal steps or payments.

Other state-level GST matters: Delhi, Gujarat, Bihar, Odisha, Tamil Nadu

Yatra Online also described additional GST matters for FY2021-22 across multiple states:

• Gujarat: The company received a DRC-01A notice dated June 19, 2025, followed by a show-cause notice dated September 4, 2025, regarding output tax, late fees, and ineligible credit on motor vehicles and catering.
• Bihar: An offline SCN dated September 4, 2025, alleged excess ITC of ₹0.055 crore. The company said it rebutted the claim on September 11, 2025, stating the credit belonged to an earlier period and was legitimate. It added that the statutory due date for adjudication lapsed without further action, and it categorised the matter as remote.
• Delhi: An offline SCN dated October 28, 2025, alleged a cash shortfall in output liability payments of ₹0.237 crore across 2024-25 and 2025-26. Separately, for FY2021-22, the company received a DRC-01 notice dated June 30, 2025, seeking clarification for ₹0.134 crore based on short-paid outward liability, input liability, and ineligible ITC related to motor vehicles.
• Odisha: A show-cause notice dated December 31, 2022, raised a demand of ₹0.06 crore for excess ITC claimed in GSTR-3B compared to GSTR-2A. The company replied on May 22, 2024. It said that after a personal hearing, the SCN was dropped with nil demand on October 10, 2025.
• Tamil Nadu: A DRC-01A notice dated April 30, 2025, flagged excess ITC claims, ineligible ITC, interest on late invoice reporting in GSTR-1, and late fees, totalling ₹0.106 crore.

Subsidiaries’ GST notices also disclosed

The disclosure also included notices relating to group entities:

• Yatra TG Stays Private Limited received an ASMT-10 notice dated January 9, 2026, from the Puducherry GST department regarding an output liability variance of ₹0.02 crore.
• TSI Yatra Private Limited received a show-cause notice for FY2020-21 dated November 28, 2024, from the Uttar Pradesh GST department regarding differences in credit notes and an alleged excess ITC claim.
• Yatra Corporate Hotel Solutions Private Limited received a DRC-01 SCN under Section 74 dated September 29, 2025, from Haryana GST authorities alleging short payment of output tax liabilities and excess ITC usage totalling ₹0.212 crore.

Other regulatory and corporate updates: transfer pricing order, board meeting, settlement

Yatra Online also said that on January 13, 2025, it received an order under Section 92CA(3) in its favour. It added that a closure order was issued the same day, reflecting a NIL tax demand.

Separately, Yatra Online informed BSE that a board meeting was scheduled on February 11, 2026, to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025.

The company also disclosed that it settled a dispute with Ezeego, paying ₹5 crore.

Snapshot table: key items and amounts disclosed

Wider context: a separate GST notice for IRFC

The provided material also referenced a separate headline: IRFC gets ₹396.90 crore GST show-cause notice for FY23. No additional details, dates, or proceedings were included in the excerpt beyond the amount and financial year mentioned.

Market impact: what investors typically track from these disclosures

From the Nasdaq notice, the clearest market-relevant datapoints are the $1.00 bid-price threshold and the December 22, 2026 deadline to regain compliance. These timelines create a defined window that the market can monitor through publicly visible trading prices.

From the GST disclosures, the market focus usually falls on confirmed demands and whether any matters have been dropped. In the excerpt, the largest quantified, company-level items include the older SCN value of concern at ₹14.81 crore (excluding interest and penalties) and the Haryana adverse order creating a total demand of ₹3.64 crore including interest and penalty. Investors may also note that the Odisha matter was dropped with nil demand, and that the Bihar matter was categorised as remote due to the statutory adjudication date lapsing without further action, as per the company’s disclosure.

GST registration details and recent return filings

The material also listed operational GST details for Yatra Online Limited (GSTIN: 06AAACY2602D1ZW). It described the company as a public limited company based in Haryana with a GST registration date of 01-Jul-2017, and noted that the GST registration status is Active.

It also stated that GSTR-1 for Feb 2025 was filed on 13-Feb-2025, and GSTR-3B for Jan 2025 was filed on 20-Feb-2025.

Conclusion

Yatra Online’s disclosures combine a time-bound Nasdaq compliance requirement with a detailed list of GST proceedings across states, including an adverse demand order for FY2019-20 and a nil-demand outcome in Odisha for FY2021-22. The next clearly dated milestone in the listing-related update is December 22, 2026, the deadline cited for regaining Nasdaq bid-price compliance, while the tax matters will likely progress through standard departmental and adjudication processes where still open.