Blue Dart shares surge as tax authority grants relief on GST dispute

Shares of the country's leading logistics solution provider, Blue Dart, rose as much as 9.39% to hit an intraday high of ₹6.039.50 on the National Stock Exchange on Thursday, January 1, after tax authority granted major relief to its subsidiary Blue Dart Aviation Limited over Goods and Services Tax (GST) dispute. On the BSE, Blue Dart shares climbed as much as 9.45% to hit an intraday high of ₹6,043.20.

Blue Dart post market hours on Wednesday, December 31, informed exchanges that the adjudicating authority in its show cause notice on December 30 substantially dropped the GST demand from ₹420.78 crore to ₹64.98 lakh along with interest of ₹41.71 lakh and a penalty of ₹6.49 lakh.

"Based on the detailed submissions and explanations furnished by BDAL, the adjudicating authority, vide its order dated December 30, 2025, (order received vide email dated December 31, 2025) has substantially dropped the demand raised in the said Show Cause Notice," Blue Dart said in an exchange filing.

The company had in September informed exchanges that it received a Show Cause Cum Demand Notice under Section 73 of the CGST Act, 2017 / TNGST Act, 2017 for the period April 2021 to March 2023, proposing a demand aggregating to ₹420,78,86,561.

Meanwhile, Blue Dart shares were witnessing higher than usual trading activity as trading volume spiked by 35 times to 5.27 lakh shares against an average trading volume of 15,300 shares.

As many as 30,000 Blue Dart shares changed hands on the BSE compared with an average of 9,615 shares traded daily in the past two weeks.

As of 11:45 am, Blue Dart shares erased most of intraday gains and traded 3.55% higher at ₹5,717, outperforming the NIFTY500 index which was trading on a flat note.