<ul data-eligibleForWebStory="false"><li>IPO-bound fintech major Pine Labs is facing over INR 300 Cr in GST-related claims in India with the most recent tax demand of INR 214.1 Cr upheld by the GST Intelligence.</li><li>Auditors flagged concerns around Pine Labs' internal financial controls, audit trail compliance, delays in statutory payments, and rising attrition rates.</li><li>Pine Labs has contested tax demands, paid INR 1.93 Cr under protest, and faces challenges related to service tax non-payment from previous years.</li><li>The company, aiming to raise INR 2,600 Cr via IPO, witnessed revenue growth of 32.9% in 9M FY25 and turned profitable, reporting a profit of INR 26.1 Cr.</li></ul>

IPO-Bound Pine Labs Faces Tax Demands & Auditor Concerns

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