Zomato’s Parent Company, Eternal, Receives ₹64.17 Crore UP Tax Notice
Eternal, the parent company of Zomato’s logistics and quick commerce arm, has received a substantial state tax notice of ₹64.17 crore from the Uttar Pradesh (UP) government.
Key Details of the Demand
- Company Affected: Eternal (the parent company managing logistics and other verticals for Zomato).
- Issuing Authority: Uttar Pradesh state tax authorities.
- Demand Amount: The notice seeks payment of ₹64.17 crore, including alleged tax liability, interest, and penalties.
- Nature of the Demand (Implied): Given the nature of Zomato’s business, the demand likely pertains to alleged discrepancies in Goods and Services Tax (GST) compliance, such as classification of services, tax on delivery charges, or reconciliation issues related to the period covered by the assessment.
- Company’s Next Steps: The article implies that the company will contest the notice, likely by filing an appeal before the relevant appellate authority, as is standard procedure for large tax demands.
Source :- Live Mint