Zomato receives fresh Rs 9.45 crore GST demand notice

New Delhi: Online food delivery platform Zomato has received a fresh Goods and Service Tax (GST) demand notice for about Rs 9.45 crore with interest and penalty.

The company said in a stock regulatory filing that the demand has been raised by the Assistant Commissioner of Commercial Taxes (Audit), Karnataka.

“This is to inform that the company has received an order for FY 2019-20 pursuant to the audit of GST returns and accounts by the Assistant Commissioner of Commercial Taxes (Audit), Karnataka raising demand of GST of Rs 5,01,95,462, along with interest of Rs 3,93,58,743 and penalty of Rs 50,19,546,” Zomato said in its BSE filing.

“We believe that we have a strong case on merits and the company will be filing an appeal against the order before the appropriate authority,” said the company in response to the tax notice.

Zomato shares closed 0.10 per cent higher at Rs 200.35 on Friday.

This is not the first time the food delivery company has received a tax notice.

Last month, the online food delivery platform received a GST demand and penalty order of more than Rs 2 crore from Delhi’s sales tax officer.

The order consists of Rs 2,22,91,376 in GST demand with interest of Rs 2,08,98,164 and a penalty of Rs 22,29,136 for the April 2018 to March 2019 period. In April, the company also received a GST demand and penalty order for Rs 11.81 crore.

Earlier this month, Zomato had said it received notices from the tax authorities in Delhi and Karnataka over alleged short payment of GST in 2018 amounting to Rs 4.2 crore.

IANS

Viceroy Research says Vedanta Semiconductors a ‘sham’ commodities trading operation

New Delhi: Firing fresh salvo at Anil Agarwal-run Vedanta Group, US short-seller firm Viceroy Research said in its latest report that Vedanta Semiconductors is a ‘sham’ commodities trading operation designed...

BIS makes hallmarking of 9 karat gold mandatory

New Delhi: The Bureau of Indian Standards (BIS) on Friday announced that it will also be mandatory to hallmark 9 karat gold with effect from July 2025. Hallmarking is governed...

Digi Yatra hits 15 million downloads, aims to serve 80 pc of air travellers by 2028

Bengaluru: Digi Yatra has crossed 15 million application downloads, underscoring the platform’s potential to revolutionise the airport experience for millions of passengers through biometric-enabled, contactless airport journeys, it was announced...

360 million Airtel customers get AI Perplexity Pro tool worth Rs 17,000 for free

New Delhi: Bharti Airtel on Thursday said it has partnered with AI-powered search and answer engine Perplexity to offer its 12-month Perplexity Pro subscription worth Rs 17,000 free of cost...

Nifty likely to reach 26,889 by December driven by domestically-oriented sectors

Mumbai :Nifty is expected to reach 26,889 by December this year, driven by a multi-faceted recovery in domestic demand, supportive monetary policies and focused fiscal initiatives, a report stated on...

Nvidia, Google most bought US stocks by Indians in April-June

New Delhi: Chipmaker Nvidia Corporation, which recently touched a $4 trillion market cap mark, was the most traded US stock by Indian investors, topping both buy and sell lists in...

Tesla Model Y launched in India at Rs 60 lakh, deliveries likely from Q3 2025

Mumbai: Electric car-maker Tesla on Tuesday entered India with launching its Model Y vehicle with rear-wheel drive (RWD) at a starting price of Rs 59.89 lakh (ex-showroom).   Tesla Model...

Leading cryptocurrency Bitcoin surges past $1,21,000 milestone for first time

New Delhi: Leading cryptocurrency Bitcoin surged past the $1,21,000 milestone for the first time on Monday. According to data from CoinMarketCap, the cryptocurrency went up 2.75 per cent at $1,21,097.94...

TCS, Bharti Airtel see big value erosion this week

  Mumbai: Tata Consultancy Services (TCS) and Bharti Airtel witnessed a sharp fall in their market value this week, dragging down overall investor sentiment. The benchmark Sensex dropped by 932.42...

Commerce & Industry Ministry clocks hectic week to push exports, big projects

New Delhi: The Ministry of Commerce and Industry has concluded a hectic week with Union Minister Piyush Goyal travelling across the country from Srinagar in the north to Bengaluru in...

Google hires Indian-origin Varun Mohan to double down on AI coding

New Delhi: Tech giant Google has roped in Indian-origin Varun Mohan, co-founder and CEO of coding AI startup Windsurf, in a major move in the ongoing AI talent race. In...

Tesla’s first India experience centre to open in Mumbai on July 15

New Delhi: As Elon Musk-owned affordable satellite internet service Starlink gets prepared to finally launch its services in India, his other venture, electric car company Tesla, is also stepping closer...

Read Previous

Iran’s Presidential polls’ run-off – what it reveals about the mood of establishment and people

Read Next

Jay Shah announces Rs 125 cr prize money after India’s T20 World Cup victory

WP2Social Auto Publish Powered By : XYZScripts.com