Bengaluru, July 21 -- Proxy advisory firm InGovern Research Services has asked the Securities and Exchange Board of India (Sebi) to examine whether Meesho Ltd has adequately disclosed potential investor risks arising from the Goods and Services Tax (GST) position adopted by its logistics subsidiary Valmo Transportation.

In a representation submitted to Sebi chairman Tuhin Kanta Pandey on 20 July, and reviewed by Mint, InGovern argued that Valmo appears to classify freight recovered from customers as a Goods Transport Agency (GTA) service, allowing it to avail lower GST applicable to such services.

According to the Bengaluru-based firm, Valmo appears to classify freight recovered from customers as a GTA service, which attracts 5% GST wit...