- विज्ञापन -
Mumbai: Zomato has received a Goods and Services Tax (GST) demand notice amounting to Rs 803 crore from the GST department, as reported on December 13. The notice, issued by the Joint Commissioner of CGST and Central Excise in Thane, pertains to unpaid GST on delivery charges. The total demand includes Rs 401.7 crore for GST and an equal amount for interest and penalties.
In its stock exchange filing, Zomato stated that it believes it has a solid case, backed by advice from external legal and tax consultants, and plans to appeal the decision to the relevant authorities. Earlier this year, the company also received GST demand notices of Rs 4.2 crore in January and Rs 9.45 crore in June, along with a Rs 400 crore notice regarding delivery charges.
Delivery charges, which are collected by Zomato, Swiggy, and other similar platforms, are considered a service under GST laws, making them subject to an 18% GST rate. These charges are typically paid directly to gig workers who serve as delivery partners.
Recently, Zomato raised over $1 billion through a qualified institutional placement of equity shares. As of Friday, the company’s stock was trading flat at Rs 285 per share. In the second quarter of FY 25, Zomato reported a 68.5% year-on-year increase in total income, reaching Rs 4,799 crore, up from Rs 2,848 crore in the same quarter of the previous financial year. Additionally, the company’s net profit surged 4.8 times to Rs 176 crore in the September quarter.
