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.