Bad news for Zomato CEO Deepinder Goyal as Eternal faces Rs 128 crore GST demand from…; shares fall to…
Eternal said it would appeal against the decision to the relevant authority.
CEO of Zomato Deepinder Goyal Eternal, which owns the Zomato and Blinkit brands, received some bad news ahead of Diwali as it received a goods and services tax (GST) demand order of over Rs 128 million from the Uttar Pradesh tax authorities on Sunday. PTI reported that the demand includes applicable interest and penalty.
Why did Eternal receive a demand order for R128 million?
The demand order from the Deputy Commissioner of State Tax, Lucknow, Uttar Pradesh, pertains to short payment of output tax and overutilization of input tax credit for the period between April 2023 and March 2024, along with interest and penalty.
What did Eternal say?
Eternal said it believed it had a strong case on the merits and would appeal the decision to the relevant authority. In a regulatory filing, Eternal said, “This is to inform you that the Company has received an order on October 18, 2025, covering the period from April 2023 to March 2024, passed by the Deputy Commissioner of State Tax, Lucknow, Uttar Pradesh, approving the claim of Rs 64,17,43,503 crore with applicable interest and penalty of Rs 64,17,43,503.”
Eternal share price
The food delivery company’s share price fell to Rs 338.45 on NSE on Monday. The company’s market capitalization as of October 20 is Rs 3.07 lakh crore. The company had previously rebranded itself as Eternal from Zomato in March.
