Zomato on Sunday acknowledged that it has been issued a tax demand, along with curiosity and penalty, amounting to Rs 23.26 crore by the Assistant Commissioner of Commercial Taxes (Audit) in Karnataka. The widespread on-line meals provide service moreover outlined its intention to enchantment the order sooner than the acceptable authority.
Zomato’s regulatory submitting
In a regulatory submitting to the BSE, the company talked about it has “obtained an order for FY 2018-19 pursuant to the audit of GST returns and accounts by the Assistant Commissioner of Commercial Taxes (Audit), Karnataka, elevating demand of GST of Rs 11,27,23,564, along with related curiosity and penalty totalling to Rs 23,26,64,271.
“We believe that we have a strong case on merits and the company will be filing an appeal against the order before the appropriate authority,” Zomato talked about inside the submitting.
Zomato’s shares touched 52-week extreme
Last month, the shares of on-line meals provide firms ended virtually 4 per cent bigger after the company reported a consolidated net income of Rs 138 crore inside the third quarter ended December 31, 2023.
The stock superior 5.17 per cent to hit a 52-week extreme of Rs 151.45 all through the day on the BSE. It ended at Rs 149.45, bigger 3.78 per cent. On the NSE, shares of the company ended at Rs 149.10, up 3.46 per cent after leaping 5 per cent to Rs 151.40 — its 52-week extreme stage.
The agency had posted a consolidated net lack of Rs 347 crore within the an identical quarter last fiscal, Zomato Ltd talked about in a regulatory submitting. Consolidated earnings from operations stood at Rs 3,288 crore. It was at Rs 1,948 crore inside the year-ago interval, it added.
(With inputs from PTI)
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Source: www.indiatvnews.com
