Zomato receives GST demand, penalty order of over Rs 2 crore

by Utkalika Mohanty

NEWS HIGHLIGHTS

Online food delivery platform Zomato has received a fresh goods and services tax (GST) demand and penalty order of more than Rs 2 crore from Delhi's sales tax officer.

New Delhi, May 2: Online food delivery platform Zomato has received a fresh goods and services tax (GST) demand and penalty order of more than Rs 2 crore from Delhi's sales tax officer.

The order consists of Rs 2,22,91,376 in GST demand with interest of Rs 2,08,98,164 and a penalty of Rs 22,29,136 for the April 2018 to March 2019 period.

"The Company has received an order for the period April 2018 to March 2019 passed by the Sales Tax Officer, Ward 300, Delhi confirming the demand of GST of Rs 2,22,91,376 with interest of Rs 2,08,98,164 and penalty of Rs 22,29,136," Zomato said in a stock exchange regulatory filing.

The foodtech major said that it will be filing an appeal against the order before the appropriate authority.

"We believe that we have a strong case on merits and the company will be filing an appeal against the order before the appropriate authority," Zomato said.

Last month, the company also received GST demand and penalty order worth Rs 11.81 crore. The order consists of Rs 5.9 crore in GST demand and a penalty of Rs 5.9 crore for the July 2017-March 2021 period.

Earlier this month, Zomato had said it received notices from the tax authorities in Delhi and Karnataka over alleged short payment of GST in 2018 amounting to Rs 4.2 crore.

(IANS)

Read Business News

"Corruption has risen under BJD rule, time to bless BJP": Nadda in Odisha

by Utkalika Mohanty

Bargarh, May 17: Bharatiya Janata Party president JP Nadda on Thursday attacked the ruling Biju Janata Dal in Odisha alleging that there was "corruption" and urged the people to bless the BJP in the assembly and Lok Sabha polls.

Addressing a public meeting in the Bargarh district on Thursday, ahead of the fifth phase of polling for Lok Sabha elections on May 20, Nadda said BJP will implement welfare schemes for people including women if voted to power.

"Is corruption taking place under BJD rule or not? Officers are indulging in corruption or not...they have embezzled crores of rupees," he said.

"Will you let these people come to power again?...This is the time to bless the BJP party by making it win," he added.

Nadda said that the Chief Minister of Odisha should be a leader who knows the culture of the state, speaks its language and is your brother. "It is a question of Odisha's self-pride," he said.

Nadda said Modi transformed politics after coming to power, focusing on development and performance.

He accused the opposition parties of trying to create divisions and indulging in appeasement and vote bank politics.

"The strategy was 'divide and rule'. However, in the last decade, Modi has transformed the definition of politics. Today, politics is about development and performance."

Nadda also talked about India becoming the fifth largest economy during the rule of BJP-led government and said the country will become the third largest economy in three years if the party-led NDA is re-elected in the Lok Sabha polls.

"Today, under Modi's leadership, India has surpassed Britain to become the world's fifth-largest economy. Now, let's make Modi the Prime Minister again... Modiji will become the Prime Minister for the third time, and within three years, India will become the world's third-largest economy," he said.

Nadda also talked about the speed of bringing out vaccines against coronavirus and India's progress in drug manufacturing.

(ANI)

Read Odisha News

Sensex Down 166 Points, M&M Gains Over 6 Pc

by Hemanta Pande

Mumbai, May 17: India equity indices were in red on Friday following muted global cues.

At 9:45 a.m., Sensex was down 166 points or 0.23 per cent, at 73,497 points and Nifty was down 45 points or 0.21 per cent, at 22,353 points.

Midcap and smallcap indices outperform benchmarks. The Nifty midcap index was up 204 points or 0.40 per cent, at 51,357 points and the Nifty smallcap was up 151 points or 0.87 per cent, at 16,747 points.

India Vix was down 0.85 per cent at 20.17 points.

Read More Business News

Among the sector indices, Auto, PSU Bank, Metal, Realty, Media, Energy, Infra, and Oil&Gas were major gainers. IT, FMCG, Pharma, Fin services, and Pvt banks were major losers.

In Sensex, 22 out of 30 shares opened in the red and 8 shares in green.

M&M is the top gainer and jumps over 6 per cent. Tata Motors, Tata Steel, Power Grid, and SBI were other major gainers. Axis Bank, Maruti Suzuki, Reliance, Sun Pharma, and HUL were major losers.

As per the market experts, the net institutional buying turning positive while the sharp recovery of nearly 350 points from the lows in Nifty and the large short position in the market have the potential to aid recovery in the market. Going forward, news from the political front is likely to turn more positive.