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Swiggy faces $18.5m tax assessment order

Swiggy, the food and grocery delivery platform, has received an assessment order from the Income Tax Department for outstanding dues totaling 158.25 crore rupees (US$18.5 million).

The dues are linked to unpaid taxes on cancellation charges paid to merchants and interest income on income tax refunds.

Swiggy plans to challenge the order through a review or appeal, stating that the ruling will not significantly impact its financials or operations.

The company had earlier received notices for 1.1 crore rupees (US$128,500) in unpaid dues for the fiscal years 2018 and 2019 related to cancellation charges and also intends to appeal those orders.

Recent Swiggy developments

Timeline
29-Mar-2025 💼 Swiggy, Zomato may pay 2% for gig workers’ earnings for pension
  • India plans pension scheme for gig workers.
  • Platforms must contribute 2% of worker income.
21-Mar-2025 🍽️ Swiggy enters B2B space with new platform for kitchen supplies
  • Swiggy launches ‘Assure’ for kitchen supplies.
  • Competes with Zomato’s Hyperpure for B2B market.
18-Mar-2025 📦 Swiggy Instamart expands to 100 cities across India
  • Swiggy expands to 100 cities with ‘megapods’
  • Q3 losses reach ₹799 crore; dark stores to rise
12-Mar-2025 🚚 Swiggy plans to adopt 100% EVs by 2030
  • Swiggy to shift to 100% EV delivery fleet by 2030
  • Plans to upskill 1 million workers alongside EV initiative
03-Mar-2025 📉 Swiggy shares hit all-time low of $3.63
  • Swiggy shares drop over 5% to ₹317.15
  • Zomato shares also decline, trading 3% lower

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