India’s Goods and Services Tax (GST) authorities have upheld a tax demand of ₹37 crore against fintech major Pine Labs, dealing a regulatory setback to one of the country’s most prominent payments and merchant commerce platforms. The decision follows a detailed scrutiny of the company’s tax filings and business practices, highlighting once again the tightening compliance environment for fintech firms operating at scale.
According to people familiar with the matter, the demand relates to alleged discrepancies in GST payments over multiple assessment periods. The tax authorities reportedly examined Pine Labs’ classification of certain services, input tax credit claims, and revenue recognition
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