Eternal Limited has informed the exchange regarding 2 orders received from Additional Commissioner of State Tax (Appeals), West Bengal.

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AI summary

Eternal Limited (formerly Zomato) has received two adverse orders on January 8, 2026, from the Additional Commissioner of State Tax (Appeals), West Bengal for the period April 2020 to March 2022. The orders confirm a total GST demand of ₹16.72 crore on grounds of alleged short payment of output tax. Additionally, interest of ₹9.16 crore and penalty of ₹1.67 crore have been imposed, taking the total financial exposure to about ₹27.56 crore. The company states it has a strong case backed by external legal and tax advisors and will be filing appeals before the appropriate higher authority. This is a continuation of disclosures originally made in September 2024.

Likely market impact

The total demand plus interest and penalty of roughly ₹27.56 crore is a manageable amount for Eternal given its scale, and since the company is contesting it in appeal, it is not yet a final outflow. However, investors should monitor the appeal outcome, as an unfavourable ruling could result in a cash hit and may set precedent for similar GST assessments in other states.