Listed meals supply and fast commerce main Zomato stated in a regulatory submitting that it has acquired a tax demand, together with curiosity and penalty, aggregating Rs 9.5 crore from the Karnataka industrial taxes authority.The corporate might be submitting an enchantment towards the demand, it stated within the submitting on the general public bourses. The newest order, for FY20, was made in respect of extra availment of enter tax credit score by the agency.
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Zomato has acquired a number of related calls for beforehand, the final being for Rs 11.82 crore on April 20, for export companies offered by the corporate to its subsidiaries positioned outdoors India. Zomato has additionally acquired a tax demand with respect to the availing of extra enter tax credit score aggregating to Rs 23 crore from the Karnataka industrial taxes authority on April 1. It was hit with an analogous demand value Rs 8.6 crore raised by the deputy commissioner of state tax, Gujarat on March 15.
On December 30 and 31, 2023, the corporate acquired three demand orders from the authorities in Delhi and Karnataka over alleged quick cost of GST in 2018 amounting to Rs 4.2 crore. Whereas the primary demand pertained to alleged quick cost of GST in annual returns and non-reversal of enter tax credit score in case of exempted provides, the second was for added curiosity on the declare that Zomato had incorrectly calculated the curiosity quantity to be paid to the federal government on extra enter tax credit score reversed by the corporate. Within the third case, the Karnataka GST division had made a tax demand much like an earlier, bigger present trigger discover.
On December 28, Zomato had stated that it had acquired a Rs 402 crore present trigger discover from GST authorities over unpaid tax on supply prices collected from prospects. On the time, the agency had stated it isn’t liable to pay these taxes because it solely collects charges on behalf of its supply companions. The discover adopted pre-demand notices to Zomato in addition to its Bengaluru-based rival Swiggy, looking for GST of Rs 750 crore despatched in November final 12 months.
Moreover this, Zomato has additionally acquired a number of tax calls for on the premise of gross sales made by its worldwide subsidiaries. The agency had acquired a service tax demand and penalty order aggregating greater than Rs 184 crore associated to the non-payment of service tax from October 2014 to June 2017, made on the premise of sure gross sales made by the corporate’s overseas subsidiaries and branches to its prospects positioned outdoors India, ET had reported on April 2 this 12 months.
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The agency has closed down nearly all of its worldwide subsidiaries, together with these in Singapore, the UK, the US and South Africa. On January 5, ET reported that Zomato had initiated the liquidation course of for its Vietnam enterprise. Previous to this, it had commenced the liquidation course of for its enterprise in Poland, Gastronauci, on December 2 final 12 months.