News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

This article was first published 3 years ago  » Business » GST evasion: I-T searches Zee, L&T offices

GST evasion: I-T searches Zee, L&T offices

Source: PTI
January 04, 2021 23:51 IST
Get Rediff News in your Inbox:

Income tax officials on Monday conducted surveys at offices of engineering major Larsen & Toubro and media firm Zee Group for alleged GST evasion, an official of the tax department said.


Illustration: Uttam Ghosh/

When contacted, L&T neither confirmed nor denied the development, while the media group has confirmed the tax survey.

The tax official said surveys have been carried out at many L&T premises in the city, and in case of Zee, the surveys are underway at all its offices across the country since morning.


In a statement, a Zee spokesperson said, "Officials from the tax department have visited our offices, with certain queries.

“Our officials are providing all the required information and extending complete cooperation."

The department source said surveys are to check whether these companies have evaded GST (goods and services tax) and if yes how much.

The alleged GST evasion tip-off is said to have come from the erstwhile Directorate General of Central Excise Intelligence -- now renamed as the Directorate General of GST Intelligence -- which is the apex revenue intelligence body under the Central Board of Indirect Taxes & Customs.

Zee Group founder Subhash Chandra is a member of the Upper House of Parliament.

A tax survey is a follow-up exercise, and there is limited action on the surveyed companies.

Section 133A of the IT Act authorises taxmen to carry out such surveys and is done basically to verify certain doubtful tax reporting by companies concerned.

Get Rediff News in your Inbox:
Source: PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

Moneywiz Live!