Zomato faces $95 million India tax bill

Quick Summary:

The Indian tax authority has ordered the $32 billion firm to pay 401.7 crore in allegedly unpaid gross goods and services tax for the period between October 29, 2019, and March 31, 2022.

Zomato, India’s top food delivery and quick commerce platform, has been slapped with a tax bill of $94.5 million.

The tax liability represents a substantial financial exposure for the Gurugram-headquartered company, exceeding half of its profits for the fiscal year ending March 2024.

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Article Details

Author / Journalist: Manish Singh

Category: Technology

Markets: United StatesIndia

Topics: Zomato

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-12 @ 16:00:15 (11 hours ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 159 words

Reading Time: 1 minutes read

Sentences: 6 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 24380728

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