The Indian e-commerce platform Meesho has received a tax demand of approximately Rs 1,500 crore from the income tax department for the 2022-23 financial year, alleging under-reported income. The company is contesting the assessment, stating it has strong legal grounds and that the notice does not materially impact its financials.
This dispute follows a similar tax notice for fiscal 2022, which Meesho is already challenging in the Karnataka High Court. The court has granted an interim stay on the earlier demand while the case is pending.
The tax adjustments are common in e-commerce and often relate to the treatment of expenses like customer discounts and incentives, which authorities may dispute as fully deductible. Meesho's recent financial results show a significant increase in net losses despite rising revenue.
Main Topics: Meesho's tax dispute, financial performance, legal challenges, e-commerce taxation practices.