Meesho Share Price : India’s e-commerce platform Meesho has received a tax demand notice of nearly ₹1,500 crore from the Income Tax Department of India. According to the company, the notice relates to the assessment year 2023-24 and was received on March 6.
In a regulatory filing, Meesho stated that the tax authorities have raised a total demand of ₹1,499.73 crore, including interest. The demand was calculated after the department’s assessment unit made certain adjustments and additions to the company’s declared income.
Stock Falls After News Breaks
Following the development, Meesho’s stock saw a sharp decline in trading. On the Bombay Stock Exchange (BSE), the company’s shares opened at ₹147.60 compared to the previous closing price of ₹159.10.
By around 11:15 a.m., the stock hit the 10% lower circuit limit. Even by 12:30 p.m., the shares remained locked at the lower circuit level, trading at ₹143.20 — down ₹15.90 or about 9.99%.
Company Disagrees With Tax Assessment
Meesho said it is reviewing the assessment order and does not agree with the observations and adjustments made by the tax department. The company believes it has strong legal and factual grounds to challenge the demand.
In its statement, the company said it is taking the necessary legal steps to defend its position and protect its interests.
Similar Case Already Pending in Court
This is not the first time Meesho has faced such a tax demand. Earlier, for the assessment year 2022-23, the department had issued a notice demanding ₹572 crore.
In that case, the Karnataka High Court granted an interim stay on April 17, 2025. The matter is still pending before the court.
No Major Impact on Operations, Says Meesho
Despite the latest notice, Meesho has clarified that it does not expect any significant negative impact on its financial health, operations, or business activities. The company emphasized that it will continue to pursue legal remedies against the demand while maintaining normal operations.