Zomato Limited announced that Pursuant to Regulation 30 of the Listing Regulations, this is to inform that the Company has received an order for the period July 2017 to March 2021 passed by Additional Commissioner, Central Goods and Services Tax, Gurugram raising demand of GST of INR 59,094,889 with applicable interest (not quantified) and penalty of INR 59,094,889. Date of receipt is 19 April 2024. The demand order has been received confirming demand of GST on export services provided by the Company to its subsidiaries located outside India during the period July 2017 to March 2021 by upholding that such services do not fulfill the conditions for the supply to qualify as export of service under GST.

The Company in its response to the show cause notice had clarified on the allegations along with supporting documents and judicial precedents, which appears not to have been appreciated by the authorities while passing the order.