Swiggy Share: The company received a tax demand notice, shares will be monitored

Online food delivery and quick commerce platform Swiggy Limited informed in an exchange filing on Saturday, April 5, that the company has received a tax demand of Rs 7.59 crore from the Maharashtra government for alleged violation of professional tax deduction. The company said in the exchange filing that Swiggy has received an assessment order of Rs 7.59 crore from the Professional Tax Officer Office of Pune for the period April 2021 to March 2022.

Swiggy said in a filing on Saturday, "The company believes that it has strong arguments against the order and is taking necessary steps to protect its interests through review/appeal." The company believes that this order will not have any major adverse effect on its finances and operations. Last week, Swiggy received an assessment order with an additional tax demand of over Rs 158 crore for the period between April 2021 and March 2022. Stock performance The company's stock closed 2.36 per cent down at Rs 337 on Friday. The company's stock has seen a decline of 26.10 per cent in the last one year.

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