Pine Labs receives GST tax demand of Rs 37.33 crore

Fintech major Pine Labs has received a goods and services tax (GST) demand of Rs 37.33 crore in a matter linked to its erstwhile subsidiary Qwikcilver Solutions for the financial year 2019-20.

This follows an appeal order issued by the Office of the Joint Commissioner of Commercial Taxes (Appeals)-4, Bengaluru. Pine Labs plans to file an appeal against the Joint Commissioner’s order before the Customs, Excise and Service Tax Appellate Tribunal (CESTAT).