Logistics and trucking platform BlackBuck receives tax demands of Rs 14.2 crore

Zinka Logistics Solutions, the parent company of logistics and trucking platform BlackBuck, has received two tax notices totalling Rs 14.2 crore.

One notice is from the Assistant Commissioner of Commercial Taxes (Audit), Bengaluru, and the other is from the Office of the Deputy Commissioner of Income Tax (TDS).

BlackBuck, which went public last November, plans to appeal both orders and said it has a strong case on merit.

GST demand of Rs 10 crore

 According to an exchange filing, the first order was issued on February 24, 2025, by the Assistant Commissioner of Commercial Taxes (Audit).

It alleges that the company wrongly availed input tax credit (ITC) under GST for the financial year 2020-21. The notice breaks down the tax liability as Rs 2.88 crore under IGST, Rs 3.56 crore under CGST, and Rs 3.56 crore under KGST.

In addition, the tax authorities have asked the company to pay interest of Rs 7.67 crore and a penalty of Rs 1.02 crore, bringing the total demand close to Rs 10.02 crore.

Income tax TDS demand of Rs 4.18 crore  

In a separate notice, the Income Tax Department has raised a demand of Rs 4.18 crore (including interest) against BlackBuck for short-deduction or non-remittance of Tax Deducted at Source (TDS).

BlackBuck said in a regulatory filing that it intends to challenge this notice and believes the order lacks merit.

The company maintains that it has complied with all relevant regulations and plans to file appeals with the appropriate authorities. It stated that the orders would not have a material impact on the company’s financials or its ongoing operations. The notices, the company says, relate to specific disputes over ITC claims and TDS obligations.

What does BlackBuck do?

Founded in 2015 by IIT Kharagpur alumni Rajesh Yabaji and Chanakya Hridaya, along with Rama Subramaniam, BlackBuck is a B2B marketplace for inter-city truckload transportation. The platform connects businesses needing shipping services with truck operators in real-time.

Despite its rapid growth and eventual market listing, BlackBuck recently reported a consolidated net loss of Rs 48.03 crore in the third quarter of FY25, compared to Rs 19.57 crore in the same quarter last year, indicating a significant surge in expenses.