Zomato Receives Rs 803 Cr GST Notice

13 Dec 2024 , 01:17 PM

After receiving a Rs 803 crore GST demand notice on Thursday, Zomato’s shares fell by around 2.6% to their day’s low of Rs 277.90 on the BSE. The food delivery service announced that it would appeal the order.

A GST demand of Rs 410.70 crore with interest and a penalty of Rs 410.70 crore are included in the sum.

“We think we have a compelling argument on its own merits, supported by the views of our outside tax and legal counsel. According to the corporate filing, the corporation will appeal the order to the relevant authority.

Recently, Zomato made headlines after a public spat between its CEO, Deepinder Goyal, and shareholder, Rajesh Sawhney, sparked discussion about the company’s environmental claims, especially its claim of “100% Green Deliveries.” Seeing a Zomato delivery worker riding a gasoline-powered bike while advertising the company’s green initiative alarmed prominent investor and entrepreneur Sawhney.

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