Meesho Faces Rs 1,499.73 Crore Tax Demand for AY 2023-24, Plans to Challenge Assessment Order:

Meesho Faces Rs 1,499.73 Crore Tax Demand for AY 2023-24, Plans to Challenge Assessment Order Meesho Limited (Formerly known as Meesho Private Limited and Fashnear Technologies Private Limited), an Indian e-commerce marketplace headquartered in Bengaluru, has received an Assessment Order under Section 143(3) of the Income-tax Act, 1961, along with a Demand Notice under Section 156 of the Income-tax Act, 1961, pertaining to the Assessment Year 2023-24. The said order and notice have been issued by the Assessment Unit (AU) of the Income Tax Department on the same date, i.e., March 05, 2026, raising a total demand amounting to Rs. 14,99.73 Crore.

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The company has made the aforementioned disclosure under a regulatory filing dated March 06, 2026, addressed to the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), issued under Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”). Through the said notice and assessment order, the tax authorities had made some additions/adjustments to the company's income declared in the income tax return (ITR) for the Assessment Year 2023-24. As per the disclosure, the company is presently analysing the issued Assessment Order and does not agree to the observations and adjustments made by the tax authorities. The company disclosed that it has adequate legal and factual grounds to challenge the said order; hence, it will file an appeal objecting to the order before the relevant authority. Further, it asserted that it will take all the necessary actions to protect its interests.

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The company also flagged that a similar demand order was also issued for the previous Assessment Year 2022-23, which was also disclosed by the company thoroughly in the prospectus dated December 5, 2025, filed by the company. When the order was challenged before the Karnataka High Court, the court granted an interim stay on the order, and the case is still pending before the court and yet to be decided. The company claimed that the mentioned action does not have any adverse impact on its financial, operational, and other activities.