Zomato, led by Deepinder Goyal, has received a Goods and Services Tax or GST demand of over 9.45 crore rupees.
The company disclosed this to the stock exchanges, stating that the order pertains to the financial year 2019-20 and was issued by the Assistant Commissioner of Commercial Taxes, Karnataka.
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The demand relates to the alleged excess availment of input tax credit, along with corresponding interest and penalties.
Zomato had responded to the show cause notice with clarifications supported by relevant documents and judicial precedents, which the company claims were not adequately considered by the authorities.
The demand order was received on 29th June. Despite this, Zomato stated that it remains confident in its legal position and does not anticipate any financial impact on the company.