On-line meals supply platform Zomato has obtained a tax demand and penalty order of Rs 11.82 crore associated to GST on export companies offered to its subsidiaries positioned exterior India from July 2017 to March 2021. The order was handed by the Further Commissioner, Central Items and Providers Tax, Gurugram, elevating the GST demand of Rs 5,90,94,889, with relevant curiosity (not quantified) and penalty of Rs 5,90,94,889.
“We imagine that we’ve got a powerful case on deserves, and the corporate will probably be submitting an attraction towards the order earlier than the suitable authority,” Zomato acknowledged in a regulatory submitting late night on Friday.
“We imagine that we’ve got a powerful case on deserves, and the corporate will probably be submitting an attraction towards the order earlier than the suitable authority,” Zomato acknowledged in a regulatory submitting late night on Friday.
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It knowledgeable that the demand order has been obtained, “confirming demand of GST on export companies offered by the corporate to its subsidiaries positioned exterior India throughout the interval July 2017 to March 2021 by upholding that such companies don’t fulfil the situations for the availability to qualify as export of service beneath GST”.
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“The corporate, in its response to the present trigger discover, had clarified on the allegations, together with supporting paperwork and judicial precedents, which seems to not have been appreciated by the authorities whereas passing the order,” it added.
