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GST authorities drop Rs 5.91 Cr tax demand against Zomato

Zomato Limited has received a favorable order from the Commissioner (Appeals), Gurugram, Haryana, which has set aside a previous demand for Goods and Services Tax (GST) amounting to Rs 5.91 crore. 

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Priyanshu Kamal
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Zomato

Zomato Limited has received a favorable order from the Commissioner (Appeals), Gurugram, Haryana, which has set aside a previous demand for Goods and Services Tax (GST) amounting to Rs 5.91 crore.  

The demand, raised by the Additional Commissioner of CGST, Gurugram, was for the period July 2017 to March 2021 and included a Rs 5.91 crore penalty and applicable interest.

Zomato disclosed this development in a regulatory filing with the National Stock Exchange (NSE).

This decision provides a significant relief to the food-tech giant, which has been navigating regulatory and taxation challenges in recent years.  

In December, the Deepinder Goyal-led firm received a demand notice of Rs 803 crore (nearly $100 million) from the Joint Commissioner of CGST & Central Excise, Thane Commissionerate, Maharashtra.

The development comes on the heels of Zomato’s quarterly results for the September-December period. The company’s revenue from operations surged 64.4% to Rs 5,405 crore in Q3 FY25 in contrast to Rs 3,288 crore in Q3 FY24 while its profits got a hit and slipped 57.2% to Rs 59 crore during the period.

In November, Zomato raised Rs 8,500 crore ($1 billion) through a Qualified Institutions Placement (QIP) of equity shares. A month later, it achieved a historic milestone by becoming the first Indian startup to join the Bombay Stock Exchange (BSE) Sensex 30, replacing JSW Steel Limited.

When the market closed on Tuesday, Zomato shares were priced at Rs 233.




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