Meesho Shares Decline By 10%; Faces ₹1,499.73 Crore Tax Demand for Assessment Year 2023–24

E-commerce platform Meesho has received a significant tax demand from the Income Tax Department related to its financial filings for the assessment year 2023–24. 

Tax Demand Raised by Authorities 

The company said it received an assessment order along with a demand notice dated March 5, 2026, which was received by the company on March 6, 2026. The order relates to the assessment year 2023–24. 

According to the notice, the total tax demand amounts to ₹14,99,73,82,840, equivalent to around ₹1,499.73 crore, including applicable interest. 

Company Disagrees with Assessment 

The demand arose after tax authorities made additions and adjustments to the income reported by Meesho for the relevant financial year. 

The company said it does not agree with the observations and adjustments in the order and believes it has adequate legal and factual grounds to challenge the demand. Meesho added that it is taking necessary steps to protect its interests. 

Previous Tax Case and Court Relief 

A similar tax demand had previously been issued for the assessment year 2022–23. In that case, the Karnataka High Court granted an interim stay on April 17, 2025, and the matter remains pending before the court. 

The company stated that the latest order does not have a significant adverse impact on its financial position, business operations, or other activities. 

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Meesho Share Price Performance  

As of 09 March 2026, at 11:20 AM, Meesho Ltd share price is trading at ₹143.34 per share, reflecting a decline of 10% from the previous closing price. Over the past month, the stock has declined by 8.66%. 

Conclusion 

Meesho plans to contest the ₹1,499.73 crore tax demand, stating that it has strong legal and factual grounds while continuing to operate its business without material impact. 

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