Swiggy Receives Massive Tax Demand Notice, Plans to Take Necessary Steps
Swiggy, a popular food and grocery delivery platform, has recently received an assessment order with an additional tax demand of over Rs 158 crore for the period between April 2021 and March 2022. The order, issued by the Deputy Commissioner of Income-tax, Central Circle 1 (1), Bangalore, relates to alleged contraventions, including cancellation charges paid to merchants disallowed under Section 37 of the Income-tax Act 1961 and interest income on income tax refund not being offered to tax.
Swiggy believes it has strong arguments against the order and is taking necessary steps to protect its interest through review and appeal. The company assured that the order has no major adverse impact on its financials and operations, suggesting that it will not significantly affect its daily business activities.
In related news, Zomato, a rival food delivery company, has laid off nearly 600 customer support associates within a year of hiring them. This move comes as the company reportedly experiences slowing growth in food delivery and losses in its quick commerce unit, Blinkit. Zomato has also been using artificial intelligence (AI) to automate customer support functions to reduce costs.
The notable layoff follows the launch of “Nugget”, an in-house AI-powered customer support platform developed over three years. Nugget handles over 15 million monthly interactions across Zomato’s platforms, including Blinkit and Hyperpure. While the move might seem austere, Zomato aims to optimize its operations and improve efficiency by leveraging advanced technology.
Original Source: https://www.india.com/business/swiggy-tax-demand-notice-of-rs-158-crore-zomato-lays-off-600-employees-blinkit-zepto-nugget-postmates-deliveroo-foodpanda-glovo-just-eat-uber-eats-7725087/
Category : Business,blinkit,Deliveroo,foodpanda,Glovo,Just Eat,Nugget,Ola,Postmates,Rapido,Swiggy,Swiggy tax demand notice,Zepto,zomato lays off 600 employees
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Publish Date: 2025-04-02 06:47:00
