GST tax credit probe: I-T conducts surveys at Zee and L&T offices

GST tax credit probe: I-T conducts surveys at Zee and L&T offices

The Income Tax (I-T) Department Monday conducted surveys at the offices of Zee Entertainment Enterprises Ltd and Larsen & Toubro (L&T) Ltd as part of an ongoing tax investigation against the two firms by the Directorate General of GST Intelligence (DGGI), said sources.

A DGGI probe has allegedly found that both Zee and L&T have availed bogus input tax credit under GST. The DGGI is investigating the records of these firms for the last five financial years. “The information gathered by the DGGI was sent to the Income Tax Department even as the GST probe is still on so that it could take timely action,” sources familiar with the development said.

Sources said starting 11 am on Monday, the I-T Department conducted surveys at over 15 locations in the Mumbai and Chennai offices of the companies under Section 133A of the Income Tax Act. Some surveys were also conducted at their associate offices in a few other cities across the country, said sources.

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