India orders Zomato to pay $95 mln in taxes, fines in latest setback
1 week, 3 days ago

India orders Zomato to pay $95 mln in taxes, fines in latest setback

Live Mint  

Dec 12 - India's tax department has ordered Zomato to pay 8.04 billion rupees in taxes and fines for non-payment of certain taxes from 2019 to 2022, the food delivery platform said on Thursday. The order directs Zomato to pay 4.02 billion rupees in outstanding taxes and an identical amount as penalty, which totals to more than four times the profit the company made in the latest reported quarter of July to September. This is the latest challenge for Zomato which, along with its rival Swiggy, is facing antitrust scrutiny for allegedly breaching competition laws and favouring selected restaurants listed on their platforms. Zomato had said at the time it "is not liable to pay any tax since the delivery charge is collected by the company on behalf of the delivery partners" and "delivery partners have provided the delivery services to the customers and not the company".

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History of this topic

Zomato slapped with ₹803 crore tax demand by GST authorities
1 week, 3 days ago

Zomato slapped with ₹803 crore tax demand by GST authorities

Live Mint  

Online food delivery platform Zomato, in a regulatory filing on Thursday said that it has received a tax demand of ₹803.4 crore, including interest and penalty from the GST department in Thane. The demand order has been received in respect of non-payment of GST on delivery charges with interest and penalty thereon, the company said adding that it will file …

Zomato gets Rs 803 crore tax notice for non-payment of GST, says will appeal against order
Trending News
1 week, 3 days ago

Zomato gets Rs 803 crore tax notice for non-payment of GST, says will appeal against order

India TV News  

Zomato, a popular food delivery app, shared that it has been served a notice for non-payment of GST, with the GST department in Thane imposing a tax demand of Rs 803.4 crore including interest and penalty. The demand order has been received in connection to the GST dues on delivery charges with interest and penalty thereon, Zomato said in a …

Zomato CEO says candidates will not have to pay Rs 20 lakh fee for Chief of Staff role: Story in 10 points
1 month ago

Zomato CEO says candidates will not have to pay Rs 20 lakh fee for Chief of Staff role: Story in 10 points

India Today  

Zomato CEO Deepinder Goyal has announced that the much-discussed requirement of paying Rs 20 lakh for the Chief of Staff position is no longer part of the plan. Zomato CEO says candidates will not have to pay Rs 20 lakh fee: Story in 10 points -Goyal revealed that the Chief of Staff role has received over 18,000 applications and highlighted …

Zomato eyes 30 per cent annual growth in food delivery business in next 5 years: Report
1 month ago

Zomato eyes 30 per cent annual growth in food delivery business in next 5 years: Report

India TV News  

Zomato, an Indian food delivery major reportedly expects its key meal delivery business to grow at an annual rate of 30 per cent over the next 5 years, a top executive stated, hailing the listing of SoftBank-backed peer Swiggy as a boost for the sector. It was on Monday when Rakesh Ranjan, Zomato's food delivery CEO said, "The food delivery …

India finds Zomato, Swiggy food delivery businesses breached antitrust laws, documents show
1 month, 2 weeks ago

India finds Zomato, Swiggy food delivery businesses breached antitrust laws, documents show

Live Mint  

An investigation by India's antitrust body found food delivery giants Zomato and SoftBank-backed Swiggy breached competition laws, with their business practices favouring select restaurants listed on their platforms, documents show. Exclusivity arrangements between Swiggy, Zomato and their respective restaurant partners "prevent the market from becoming more competitive," the CCI's investigation arm noted in its findings reviewed by Reuters on Friday. …

Zomato Surges 8% After JPMorgan Hikes Target Price; Check Details
3 months, 2 weeks ago

Zomato Surges 8% After JPMorgan Hikes Target Price; Check Details

News 18  

Shares of food delivery platform Zomato surged 8 per cent to Rs 261.50 on the BSE in Thursday’s intra-day trade amid heavy volumes in an otherwise lacklustre market. For Blinkit, the company’s quick commerce arm, revenues surged 145 per cent year-on-year to Rs 942 crore, though adjusted EBITDA for the same period stood at Rs -3 crore. The gross order …

Zomato stock price up 112% in 2024; should investors buy now?
4 months, 2 weeks ago

Zomato stock price up 112% in 2024; should investors buy now?

Live Mint  

Global brokerage firm Nomura has increased its target price for Zomato to ₹280 from ₹225 while maintaining a ‘buy’ recommendation. Q1 Earnings Zomato’s consolidated net profit for Q1FY25 skyrocketed to ₹253 crore, up from ₹2 crore a year ago, driven by increased gross order value across its food delivery, quick commerce, and going-out verticals. Investment Rationale Food Delivery Growth: Nomura …

Zomato collected Rs 83 cr in platform fee from customers till March
4 months, 2 weeks ago

Zomato collected Rs 83 cr in platform fee from customers till March

Deccan Chronicle  

New Delhi: Food delivery aggregator Zomato, which began charging platform fee on orders from last August, collected Rs 83 crore through the new levy till March, the company's annual report has revealed.Platform fee has been cited as one of the three key factors driving Zomato's Adjusted Revenue, which grew 27 per cent year-on-year to Rs 7,792 crore in FY24. "Adjusted …

Zomato collected ₹83 crore in platform fee from customers till March
4 months, 2 weeks ago

Zomato collected ₹83 crore in platform fee from customers till March

The Hindu  

Food delivery aggregator Zomato, which began charging platform fee on orders from last August, collected ₹83 crore through the new levy till March, the company's annual report has revealed. Platform fee has been cited as one of the three key factors driving Zomato's Adjusted Revenue, which grew 27% year-on-year to ₹7,792 crore in FY24. "Adjusted Revenue as a percentage of …

Zomato Q1 results: Zomato net profit up 126 times to ₹253 crore in April-June quarter; revenue rises 74%
4 months, 3 weeks ago

Zomato Q1 results: Zomato net profit up 126 times to ₹253 crore in April-June quarter; revenue rises 74%

The Hindu  

Food delivery aggregator Zomato on Thursday reported a multifold jump in consolidated net profit to ₹253 crore for the April-June quarter of 2024-25 compared to ₹2 crore in the year-ago period. In a letter to shareholders, Zomato Chief Financial Officer Akshant Goyal shared that the gross order value growth across its B2C businesses accelerated to 53% YoY to ₹15,455 crore. …

Zomato Q1 Result: Food Delivery Platform's Net Profit Surges To Rs 253 Crore
4 months, 3 weeks ago

Zomato Q1 Result: Food Delivery Platform's Net Profit Surges To Rs 253 Crore

ABP News  

Zomato Q1 Result: Food delivery platform Zomato announced a beyond-expected rise in quarterly profit, driven by robust demand for its food and grocery delivery services. On Thursday, the company reported a consolidated net profit surged to Rs 253 crore for the April-June quarter of the fiscal year 2024-25, up from Rs 2 crore in the same period last year. The …

Swiggy, Zomato hike platform fees; online food delivery to cost more
5 months, 1 week ago

Swiggy, Zomato hike platform fees; online food delivery to cost more

The Hindu  

Food delivery apps Swiggy and Zomato have hiked platform fees, pushing charges up per order by 20% to Rs. The platform fee is a different charge from the delivery fee, goods and services tax, restaurant charges and handling charges that are levied. Last year, Zomato had pushed up the platform fee to Rs.3 finally helping it gain profitability. Then, earlier …

Zomato receives GST notice of ₹9.5 crore in Karnataka, Deepinder Goyal's company to appeal
5 months, 3 weeks ago

Zomato receives GST notice of ₹9.5 crore in Karnataka, Deepinder Goyal's company to appeal

Hindustan Times  

Online food ordering and delivery platform Zomato has received a GST demand notice of ₹9.5 crore, it said in a filing on Sunday. Zomato said that the demand is for the fiscal year 2019-20 following an audit of GST returns and account The notice, received on Saturday, demands a GST amount of ₹5.01 crore, interest of ₹3.93 crore, and a …

Soon, you may be able to get your Zomato delivery faster if you pay extra
7 months, 4 weeks ago

Soon, you may be able to get your Zomato delivery faster if you pay extra

Hindustan Times  

Zomato is trying out a new feature using which you can pay extra to get your food delivered faster. Even customers having Zomato Gold, who are offered extra discounts and offers, must pay this fee. It offers next-day meal delivery from a few locations but ran into issues when its pre-stocked goods delivery mechanism was altered and is also currently …

Zomato hikes platform fee for customers by 25%: How costly will your orders be?
8 months ago

Zomato hikes platform fee for customers by 25%: How costly will your orders be?

Hindustan Times  

Zomato has increased its platform fee on customers by 25 per cent. Zomato platform fee: The logo of Indian food delivery company Zomato is seen on its app on a mobile phone displayed. In case, you opt for Zomato Gold loyalty programme, you don't need to pay the delivery charges although you will have to pay the platform fees. Zomato …

Zomato gets ₹11.82 crore tax demand notice
8 months ago

Zomato gets ₹11.82 crore tax demand notice

The Hindu  

Online food delivery platform Zomato has received a tax demand and penalty order of ₹11.82 crore related to GST on export services provided to its subsidiaries located outside India from July 2017 to March 2021. India’s Zomato posts first-ever profit earlier than expected "We believe that we have a strong case on merits, and the company will be filing an …

Zomato gets tax demand order of Rs 23.26 crore, online food delivery platform to appeal against it
8 months, 3 weeks ago

Zomato gets tax demand order of Rs 23.26 crore, online food delivery platform to appeal against it

India TV News  

Zomato on Sunday stated that it has been issued a tax demand, along with interest and penalty, amounting to Rs 23.26 crore by the Assistant Commissioner of Commercial Taxes in Karnataka. Zomato's regulatory filing In a regulatory filing to the BSE, the company said it has "received an order for FY 2018-19 pursuant to the audit of GST returns and …

Zomato: Delivering profit and robust growth
10 months, 1 week ago

Zomato: Delivering profit and robust growth

New Indian Express  

NEW DELHI: Back in June 2022 when Zomato announced its decision to acquire loss-making quick commerce firm Blinkit, there was wide scepticism that this purchase would delay the company’s path to profitability. Zomato on Thursday reported a profit after tax of R138 crore in the December quarter, helped by sharp growth in its quick commerce business and resilience shown by …

Zomato surges over 5 per cent after posting third straight quarter of profit at Rs 138 crore
10 months, 2 weeks ago

Zomato surges over 5 per cent after posting third straight quarter of profit at Rs 138 crore

India TV News  

Shares of online food delivery firm Zomato Ltd surged over 5 per cent on Friday following the company's announcement of a consolidated net profit of Rs 138 crore for the third quarter ended December 31, 2023. Zomato Ltd's revenue surged by 69 per cent year-on-year to reach Rs 3,288 crore, contrasting with the challenges faced by the broader e-commerce sector …

RBI authorises Zomato Payments to operate as online payment aggregator: Five things you need to know
10 months, 4 weeks ago

RBI authorises Zomato Payments to operate as online payment aggregator: Five things you need to know

Live Mint  

Online food delivery firm Zomato says its subsidiary Zomato Payments has received authorisation from the RBI to operate as an online payment aggregator. Food delivery platform Zomato on Thursday said the Reserve Bank of India has granted a payment aggregator licence to its subsidiary Zomato Payments Private Limited. {{^adFree}} {{/adFree}} "Pursuant to our earlier disclosure dated August 4, 2021, regarding …

Zomato gets RBI approval to operate as online payment aggregator
10 months, 4 weeks ago

Zomato gets RBI approval to operate as online payment aggregator

Hindustan Times  

Online food delivery platform Zomato on Thursday announced that it has received authorisation by the Reserve Bank of India as an ‘Online Payment Aggregator’. “Pursuant to our earlier disclosure dated August 4, 2021 regarding the incorporation of Zomato Payments Private Limited, a wholly owned subsidiary of Zomato Limited to carry out the business, inter alia, as payment aggregator and issuer …

Zomato receives show cause notice worth Rs 401 crore for unpaid GST on delivery charges: Report
11 months, 3 weeks ago

Zomato receives show cause notice worth Rs 401 crore for unpaid GST on delivery charges: Report

India TV News  

Food delivery company Zomato has received a Good and Services Tax notice over a tax liability of Rs 401.7 crore, according to media report which added that the Directorate General of GST Intelligence had issued tax notices to Zomato and Swiggy for allegedly not clearing GST on delivery charges. It said that delivery charges come under the services category and …

Zomato soups in new controversy as it retracts from ₹1.6 cr salary job offer
1 year ago

Zomato soups in new controversy as it retracts from ₹1.6 cr salary job offer

Live Mint  

Online food delivery platform Zomato is once again facing the ire of the netizens as on the student of Indian Institute of Technology Delhi took to social to say how the online firm has gone back on its words regarding the placement. Hrithik Talwar, who is a research intern in IIT-Delhi wote on X “Zomato came to the campus, offered …

GST notice of ₹400 crore sent to Zomato, ₹350 crore to Swiggy: Report
1 year, 1 month ago

GST notice of ₹400 crore sent to Zomato, ₹350 crore to Swiggy: Report

Live Mint  

Zomato and Swiggy, the country's top two food delivery aggregators, have reportedly come under the scrutiny of tax authorities, with notices of a combined value of ₹750 crore sent to them, a report said on November 22. Zomato, which has the biggest share in India's online food delivery market, has been issued a Goods and Services Tax notice of ₹400 …

Jodhpur District Commission Orders Zomato To Pay Rs. 1 Lakh Compensation For Delivering Non-Veg Food Instead Of Prescribed Veg Food Items
1 year, 1 month ago

Jodhpur District Commission Orders Zomato To Pay Rs. 1 Lakh Compensation For Delivering Non-Veg Food Instead Of Prescribed Veg Food Items

Live Law  

The District Consumer Disputes Redressal Commission-II, Jodhpur bench comprising Dr. Shyam Sundar Lata and Balveer Khudkhudiya held Zomato liable for the incorrect delivery of non-vegetarian food items to the complainant while he ordered vegetarian food items, causing him and his family mental and physical distress and hurting their religious sentiments. Brief Facts: Mr Shekhar had placed an online order for …

Zomato Q2 Result: Net profit at ₹36 crore, revenue rises 72%, stock surges 7%
1 year, 1 month ago

Zomato Q2 Result: Net profit at ₹36 crore, revenue rises 72%, stock surges 7%

Hindustan Times  

Online food delivery platform Zomato on Friday reported a consolidated profit after tax of ₹36 crore for the second quarter ended September 2023, driven by strong revenue growth. Food delivery company Zomato as seen on its app The company had reported a loss of ₹251 crore for the corresponding quarter of the previous financial year. The company also announced that …

Zomato Q2 Results: Net profit at ₹36 crore, revenue up 72% to ₹2,848 crore
1 year, 1 month ago

Zomato Q2 Results: Net profit at ₹36 crore, revenue up 72% to ₹2,848 crore

Live Mint  

Zomato Q2 Results: Zomato announced its July-September quarter results for fiscal 2023-24 on Friday, November 3, reporting a net profit of ₹36 crore, against a net loss of ₹251 crore in the corresponding period last year. The online food delivery platform's revenue from operations in the second quarter of current fiscal came in at ₹2,848 crore, registering a growth of …

India's Zomato posts first-ever profit earlier than expected
1 year, 4 months ago

India's Zomato posts first-ever profit earlier than expected

The Hindu  

India's Zomato posted its first-ever profit on Thursday, one quarter earlier than expected, helped by a tax gain and strong orders in its food and grocery delivery businesses. Zomato expected to hit this milestone in the September quarter, said Chief Financial Officer Akshant Goyal, adding that they were being conservative with that guidance. Gross order value — the total value …

Zomato Q1 Results: Food delivery firm posts first-ever net profit of ₹2 crore
1 year, 4 months ago

Zomato Q1 Results: Food delivery firm posts first-ever net profit of ₹2 crore

Live Mint  

Food delivery platform Zomato on Thursday announced its Q1 earnings for FY24. Zomato, which also runs grocery delivery service Blinkit, said consolidated revenue from operations rose 70.9% to 24.16 billion rupees in the first quarter. Consolidated revenue from operations in the first quarter of the current fiscal was at ₹2,416 crore as against ₹1,414 crore in the year-ago period, it …

Zomato customer flags scary Cash-on-Delivery scam, CEO says he is aware and working to fix
1 year, 11 months ago

Zomato customer flags scary Cash-on-Delivery scam, CEO says he is aware and working to fix

India Today  

Food tech company Zomato might have a scam plaguing its day-to-day operations. Zomato’s food delivery scam The man, named Vinay Sati, shared that he had ordered some burgers from a restaurant and had paid for the same online. The Zomato user then, instead of paying the company, can straightaway pay the delivery person a small sum of Rs 200 or …

Uber Likely To Sell 7.8% Stake In Zomato For USD 373 Million
2 years, 4 months ago

Uber Likely To Sell 7.8% Stake In Zomato For USD 373 Million

ABP News  

Mumbai: Ride-hailing app Uber is selling off its entire holding in Indian food delivery company Zomato for at least USD 373 million through a block deal of shares, merchant banking sources said on Tuesday. At the lower end of the band, which is a 13.6 per cent discount to Tuesday's close, the total money to be raised through the sale …

Swiggy, Zomato to pay 5% GST from today: What are the new changes and how will it impact customers
2 years, 11 months ago

Swiggy, Zomato to pay 5% GST from today: What are the new changes and how will it impact customers

Hindustan Times  

Online food delivery platforms such as Swiggy and Zomato will have to pay five per cent goods and services tax starting Saturday as the changes to GST rules will come into effect. The services offered by these platforms and cloud kitchens and central kitchens were covered under ‘restaurant service’ and would attract 5% GST without any input tax credit, the …

Your Zomato and Swiggy food orders may get costlier from January 1, here is why
2 years, 11 months ago

Your Zomato and Swiggy food orders may get costlier from January 1, here is why

India Today  

If your favourite pastime is ordering food from Zomato and Swiggy, it may soon get costlier. From January, all food delivery apps will be liable to pay a 5 per cent goods and services tax, otherwise known as GST, on their restaurant services, per government orders. Finance Minister Nirmala Sitharaman, at the 45th meeting of the GST Council held in …

Swiggy, Zomato to collect 5% GST from customers starting 1 Jan, 2021; here's how much you will have to pay
3 years, 3 months ago

Swiggy, Zomato to collect 5% GST from customers starting 1 Jan, 2021; here's how much you will have to pay

Firstpost  

Nirmala Sitharaman made the announcement after the GST Council meeting, which has made the decision for ease in tax administration. Food delivery apps like Swiggy and Zomato will collect five percent Goods and Services Tax from consumers instead of the restaurant they pick up orders from, starting 1 January 2022. Sitharaman said that the customer would be “the point on …

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