Swiggy receives ₹7.59 crore tax demand over alleged violation of professional tax deduction from Maharashtra Govt

Online food delivery and quick commerce platform Swiggy Limited announced on Saturday, April 5, that the company had received a tax demand of ₹7.59 crore from the Maharashtra government for an alleged violation of professional tax deductions, according to an exchange filing.

The Office of the Profession Tax Officer of Pune, Maharashtra, has placed the charges and the tax demand on the food delivery firm, filing data shows.

“On April 04, 2025, the Company has received an assessment order for the period April 01, 2021, to March 31, 2022, for an amount of ₹7,59,86,813,” said Swiggy in the exchange filing.

The professional tax authority alleged that the company violated provisions applicable for the deduction of ‘Profession Tax’ from the employee salary under the State Tax of Maharashtra.

“Violation of provisions pertaining to deduction of Profession Tax from the employees salary, under the Maharashtra State Tax on Professions, Trades, Callings & Employments Act, 1975 has been alleged against the Company,” according to the NSE filing.

Swiggy plans to appeal against the authorities as the company believes that they have strong arguments against the tax demand order. The company also said that there will be no major financial impact on the firm from this order.

“The Company believes that it has strong arguments against the Order and is taking necessary steps to protect its interest through review/appeal,” they said.

Swiggy Share Price

Swiggy shares closed 2.32 per cent lower at ₹337.20 after Friday's stock market session, compared to ₹345.20 at the previous market close. The company received the tax notice on Saturday.

Swiggy shares were listed on the Indian stock market in November 2024. Since then, the stock has dropped 21.55 per cent. On a year-to-date (YTD) basis, the food delivery stock has dropped 37.80 per cent in 2025. However, the stock has gained 1.77 per cent in the last five trading sessions in the Indian stock market.

Swiggy shares hit their all-time high levels at ₹617 on December 23, 2024, while the lifetime low level was at ₹312.80 on March 27, 2025, according to the BSE data. The shares are currently trading above their all-time low levels.

The food delivery company's market capitalisation was at ₹77,100.14 crore as of Friday's stock market close.

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