IPO-Bound Swiggy Facing INR 327 Cr GST Demand, Allegations Of Employing Child Labourers

IPO-Bound Swiggy Facing INR 327 Cr GST Demand, Allegations Of Employing Child Labourers

SUMMARY

Swiggy faces potential GST liabilities to the tune of INR 326.7 Cr from DGGI, Pune for allegedly not paying the tax levy on the delivery fee collected from customers

Cofounder and CEO Sriharsha Majety received a notice last year from Deputy Labour Commissioner, Lucknow over allegations of employing child labourers

As per Swiggy’s updated DRHP with SEBI, its IPO will comprise a fresh issuance of shares worth up to INR 3,750 Cr and an OFS component of up to 18.53 Cr shares

Foodtech major Swiggy faces potential goods and services tax (GST) liabilities to the tune of INR 326.7 Cr, as per its recently filed updated draft red herring prospectus (DRHP).

The office of Directorate General of GST Intelligence (DGGI) (Pune zonal unit), in December 2023, issued a demand notice to the foodtech giant for allegedly not paying tax levy on the delivery fee collected from customers. The case pertains to the period between July 2020 and March 2022. 

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