India, July 22 -- Proxy advisory firm InGovern Research Services has approached SEBI, seeking an examination of the GST position adopted by Meesho through its logistics arm Valmo Transportation and the adequacy of related disclosures to investors.

In a representation submitted to SEBI chairman Tuhin Kanta Pandey, InGovern said Valmo appeared to classify freight recovered from customers as a goods transport agency (GTA) service to avail the GST treatment applicable to such services.

InGovern alleged that redacted invoices attached to the representation showed certain charges attracting 5% integrated GST (IGST), even though, according to the proxy advisory firm, such charges should have attracted GST at 18%.

Rejecting the allegations, a ...