Swiggy faces Rs 158 crore tax demand, plans to appeal

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Food and grocery delivery firm Swiggy has received an assessment order from the Income Tax Department for unpaid dues of Rs 158.25 crore, the company said in a filing to the exchanges.

This pertains to the fiscal year 2022, during which Swiggy did not pay tax on cancellation charges paid to merchants and the interest income on income tax refund, it said.

“The company believes that it has strong arguments against the order and is taking necessary steps to protect its interest through review/appeal. The company believes that the order has no major…



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Swiggy faces Rs 158 crore tax demand, plans to appeal


Food and grocery delivery firm Swiggy has received an assessment order from the Income Tax Department for unpaid dues of Rs 158.25 crore, the company said in a filing to the exchanges.

This pertains to the fiscal year 2022, during which Swiggy did not pay tax on cancellation charges paid to merchants and the interest income on income tax refund, it said.

“The company believes that it has strong arguments against the order and is taking necessary steps to protect its interest through review/appeal. The company believes that the order has no major…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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