Zomato Shares Dip as GST Authorities Issue Rs 402 Crore Show-Cause Notice

Name: Zomato Shares Dip as GST Authorities Issue Rs 402 Crore Show-Cause Notice
Uploaded: 2023-12-28T11:39:01+05:30
Duration: 1 min 38 s
Description: Zomato shares fell 2% on Dec 28 following a Rs 402 crore show-cause notice from GST authorities regarding alleged unpaid taxes on delivery charges. The company claims it`s not liable, citing delivery partners as service providers. Zomato plans to contest the notice but acknowledges the substantial amount in question, over 10 times its recent quarterly profit.

Zomato shares fell 2% on Dec 28 following a Rs 402 crore show-cause notice from GST authorities regarding alleged unpaid taxes on delivery charges. The company claims it's not liable, citing delivery partners as service providers. Zomato plans to contest the notice but acknowledges the substantial amount in question, over 10 times its recent quarterly profit.

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Written By: Zee Business Video Team

Updated on: December 28, 2023, 11.39 AM IST