ETERNAL LIMITED Receives GST Demand Order of ₹1.71 Crore, Plans Appeal
ETERNAL LIMITED received a GST demand order of ₹50.53 lakh, with ₹64.18 lakh interest and ₹60.57 lakh penalty, totaling ₹1.75 crore. The order relates to excess input tax credit for April 2019-March 2020. The company plans to appeal, expecting no financial impact.
While the company plans to appeal and does not expect a financial impact, the initial demand is substantial and could potentially affect operations if the appeal is unsuccessful. The amount is material but not catastrophic for a listed entity.
The company has received a significant demand order for GST, interest, and penalty, which is a negative development.
ETERNAL LIMITED (formerly Zomato Limited) has received an adjudication order from the Deputy Commissioner, State Tax, Lucknow, Uttar Pradesh, on February 4, 2026. The order pertains to the period of April 2019 to March 2020.
The company has been served a total demand of GST amounting to ₹50,52,803, along with interest of ₹64,17,501 and a penalty of ₹60,56,806. The total demand including interest and penalty aggregates to ₹1,75,27,110 (approximately ₹1.75 crore).
The demand order has been issued under Section 74 of the Central Goods and Services Tax Act, 2017, and the Uttar Pradesh Goods and Services Tax Act, 2017, concerning the alleged excess availment of input tax credit. The company, however, believes it has a strong case on merits and intends to file an appeal against this order before the appropriate authority. Eternal Limited expects no material financial impact on the company as a result of this order.
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ETERNAL LIMITED filed this with the NSE as a statutory disclosure, categorised under regulatory impact. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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