Swiggy Receives Tax Demand from Income Tax Department
Food delivery giant Swiggy has been issued a Goods and Services Tax (GST) notice by the Income Tax Department. The company has been asked to pay ₹158.25 crore as dues in respect of delivery charges collected from customers. Swiggy made this revelation in an exchange filing.
GST Dues for Delivery Charges
The GST dues, as per the company, relate to delivery charges it collected between April 2021 and March 2022, amounting to ₹158.27 crore. Swiggy has stated that it will appeal the tax demand before the relevant authorities. It also made it clear that the notice will not impact its financial operations.
Swiggy's Market Performance
In spite of the tax notice, Swiggy's share is still robust. At 10:40 AM, shares are at ₹340.85, up by 2.80%. Interestingly, Swiggy has received such GST notices before.
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