BAJAJ BROKING

Notification
No new Notification messages
Laxmi Dental IPO is Open!
Apply for the Laxmi Dental IPO through UPI in just minutes.
Open a Free Demat Account
Pay ZERO maintenance charges for the first year, get free stock picks daily, and more.
Trade Now, Pay Later with up to 4x
Never miss a good trading opportunity due to low funds with our MTF feature.
Track Market Movers Instantly
Stay updated with real-time data. Get insights at your fingertips.

Zomato Faces ₹803 Crore GST Demand, Including Interest and Penalty

Listen to our Podcast: Grow your wealth and keep it secure.

0:00 / 0:00

Synopsis:

Zomato received a ₹803 crore GST demand, including interest and penalties, for non-payment on delivery charges. The company plans to appeal the order. Zomato share price fell by 2.36% to ₹284.90 on the BSE.

Food delivery platform Zomato Ltd has been issued a ₹803 crore GST demand by the Joint Commissioner of CGST & Central Excise, Thane Commissionerate, Maharashtra. The order covers alleged non-payment of GST on delivery charges from October 29, 2019, to March 31, 2022. The demand includes ₹401.7 crore in GST dues, a penalty of the same amount, and applicable interest.

Also read: Ashok Leyland Wins ₹345.58 Crore Order for 1,475 BSVI Bus Chassis

ZOMATO LIMITED

Trade

243.359.75 (4.17 %)

Updated - 15 January 2025
244.75day high
DAY HIGH
235.00day low
DAY LOW
48009820
VOLUME (BSE)

Key Takeaways

  • Total Demand Amount: ₹803 crore (₹401.7 crore GST, ₹401.7 crore penalty).

  • Period of Demand: October 29, 2019, to March 31, 2022.

  • Reason: Alleged non-payment of GST on delivery charges.

  • Zomato Share Price: Fell 2.36%, closing at ₹284.90 on the BSE.

Also read: Defence Ministry Signs ₹13,500-Crore Deal with HAL for Su-30MKI Jets

Breakdown of GST Demand

Component

Amount (₹ Crore)

GST Due

401.7

Penalty

401.7

Total Demand

803.4

The company has stated that it intends to appeal the order, citing confidence in its legal position and external advisory opinions.

Impact on Zomato’s Market Position

Zomato’s share price dropped by 2.36%, closing at ₹284.90 on December 12, 2024, following the announcement. The GST demand adds to the regulatory challenges faced by the food aggregator, potentially impacting its short-term market sentiment.

Zomato’s Next Steps

Despite the setback, Zomato remains firm in its stance, asserting that it has a strong legal case to counter the GST demand. The company plans to file an appeal with the appropriate authority to challenge the order.

The ₹803 crore GST demand underscores ongoing regulatory scrutiny in India’s food delivery sector. While Zomato plans to contest the order, the impact on its financial outlook and market sentiment remains to be seen.

Also read: Kalpataru Projects To Raise ₹1,000 Cr Via QIP; Bags ₹2,174 Cr Orders

Do you have a trading account app or demat account app?

You can open an account with Bajaj Broking in minutes.

Download the Bajaj Broking app now from Play Store or App Store.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

For All Disclaimers Click Here: https://bit.ly/3Tcsfuc

Share this article: 

Read More Blogs

Our Secure Trading Platforms

Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading

Bajaj Broking App Download

8 Lacs+ Users

icon-with-text

4.4+ App Rating

icon-with-text

4 Languages

icon-with-text

₹5300+ Cr MTF Book

icon-with-text