Eternal said it will file an appeal against the order before the appropriate authority.
Zomato CEO Deepinder Goyal has received a piece of bad news ahead of Diwali, as Eternal, which owns the Zomato and Blinkit brands, on Sunday received a goods and services tax (GST) demand order from the Uttar Pradesh tax authorities for over Rs 128 crore. The demand includes applicable interest and penalty, PTI reported.
Why did Eternal receive a demand order of Rs 128 crore?
The demand order received from the Deputy Commissioner, State Tax, Lucknow, Uttar Pradesh, is with respect to short payment of output tax and excess availment of input tax credit for the period April 2023 to March 2024, with interest and penalty thereon.
What Eternal said
Eternal said it believes it has a strong case on the merits and will file an appeal against the order before the appropriate authority. In a regulatory filing, Eternal said, “This is to inform that the Company has received an order on 18 October 2025 for the period April 2023 to March 2024 passed by Deputy Commissioner, State Tax, Lucknow, Uttar Pradesh, confirming demand of GST of Rs 64,17,43,503 with interest as applicable and penalty of Rs 64,17,43,503.”
Eternal share price
The share price of the food delivery company fell to Rs 338.45 on Monday on the NSE. The company has a market cap of Rs 3.07 lakh crore, as of October 20. The company rebranded itself as Eternal in March, from Zomato earlier.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: dnaindia.com
