On New Year's Eve, Zomato had temporarily increased the platform fee to as much as Rs 9 per order in some areas.
Zomato is one of the most popular food delivery platforms in India with millions of users across the country. On New Year’s Eve, Zomato delivered a record number of orders. As revealed by CEO Deepinder Goyal, the platform delivered almost as many orders on New Year's Eve 2023 as it did in the six previous years combined. In addition to this, the delivery partners associated with Zomato received more than Rs 97 lakh as tips on that day. Following a surge in food orders on New Year's Eve, Zomato, a leading food delivery platform, has raised its platform fee from Rs 3 to Rs 4 per order in major markets. This change was implemented from January 1.
On New Year's Eve, Zomato had temporarily increased the platform fee to as much as Rs 9 per order in some areas. The adjustment in fees comes as the company's stock opened high on Tuesday, trading around Rs 126 in the morning, buoyed by a positive outlook from international brokerage firm CLSA.
Initially, in August of the previous year, Zomato introduced a platform fee of Rs 2 in a bid to improve profit margins. This fee was later increased to Rs 3 and has now been adjusted to Rs 4 from January 1. The revised fee applies to all customers, including those subscribed to Zomato Gold.
Zomato, along with its quick commerce platform Blinkit, recorded an all-time high in orders and bookings on New Year's Eve, surpassing their performance in previous years. Deepinder Goyal, Founder and CEO of Zomato, expressed his excitement about the future in a post on social media platform X, noting the significant volume of orders received on NYE 2023.
Amidst these developments, Zomato has been issued notices by tax authorities in Delhi and Karnataka for alleged underpayment of goods and services tax (GST), totaling Rs 4.2 crore. The company plans to appeal against these tax demand notices.
This situation follows the recent Rs 400 crore show-cause notice from GST authorities to Zomato regarding unpaid dues classified as “delivery charges”.
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