Meesho gets a massive Rs 1,500 crore tax demand from the Income Tax department

E-commerce marketplace Meesho has received a tax demand of Rs 1,499.7 crore from the Income Tax Department for the Assessment Year 2023–24, according to a regulatory disclosure by the company.

The Bengaluru-based company said it received an Assessment Order under Section 143(3) of the Income-tax Act, 1961, along with a Demand Notice under Section 156 issued by the Assessment Unit of the Income Tax Department. The order and notice are dated March 05, 2026 and were received by the company on March 06, 2026.

Based on the assessment order, the tax authority has raised a total demand of Rs 14,99,73,82,840 (approximately Rs 1,499.7 crore), including applicable interest. The demand follows certain additions and adjustments made by the tax department to the income reported by the company for the assessment year.

Meesho said it does not concur with the observations and adjustments made in the assessment order and is currently evaluating the matter. The company added that it believes it has adequate legal and factual grounds to contest the demand and is taking necessary steps to protect its interests.

The company also noted that the tax department had issued a similar demand for the previous assessment year (2022–23). That matter was disclosed in the company’s prospectus dated December 5, 2025, where it said the Karnataka High Court granted an interim stay on the demand notice through an order dated April 17, 2025, and the case remains pending.

According to Meesho, the latest assessment order and demand notice are not expected to have any major adverse impact on its financial position, operations, or other activities.

Separately, the company reported operating revenue of Rs 3,517.5 crore in Q3 FY26, marking a 31% year-on-year increase, while its loss widened over 13 times to Rs 490 crore during the same period.