Food delivery company Zomato has now decided to challenge a GST demand received recently. Earlier the company had said that considering the huge cost of fighting the case, it intends to pay the amount of the demand. However, now the company is going to reverse its old decision and is going to challenge the tax demand.
GST department sent a notice of this much
Zomato received this tax demand from West Bengal GST. In the GST notice sent by the State GST Department, a demand of Rs 5.6 crore has been made from the food delivery company. The amount of demand includes outstanding tax, interest and penalty. The West Bengal GST Department has sent this notice for the period from April 2020 to March 2021.
The company intends to appeal
The food delivery company said on Saturday that it is going to appeal against this demand. However, a day earlier, on Friday, September 13, Zomato had said that it would pay the amount demanded considering the litigation cost. A day later, the company has changed its mind and has clarified that now it intends to appeal against the order.
Zomato’s statement on the matter
The company had earlier said- the company feels that its case is strong. However, considering the huge expenses incurred in litigation, the company will pay the demand made by the GST authority. Now the company says- the company believes that it is right and its case is strong. In such a situation, the company has decided to appeal against the order before the appropriate authority.
This year it has given multibagger return
On Friday, Zomato’s stock fell 3.66 percent to close at Rs 273.50. In the last 6 months, Zomato’s stock has strengthened by more than 70 percent. Since the beginning of this year, Zomato’s stock has given a return of about 120 percent. That is, Zomato’s name has been registered in the multibagger stocks of 2024.
Also read: Food from Zomato will be delivered to your seat in the train, this service has started at more than 100 stations
