I-T department begins surveys at Flipkart, Swiggy offices over alleged input tax credit default
The surveys by the I-T department are related to an Input Tax Credit default, allegedly by a few third-party contracting firms.
January 07, 2021 / 09:41 PM IST
The Income Tax department on January 7 started conducting surveys at the Bengaluru offices of Swiggy and Instakart - the logistics arm of Flipkart - in connection with an Input Tax Credit default, allegedly by a few third-party contracting firms, reported CNBC-TV18.
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According to the report, the dues of Instakart's vendors could be as high as Rs 20 crore. Moneycontol couldn't independently confirm the figure.
Meanwhile, both Swiggy and Flipkart confirmed that the I-T department has been conducting surveys. However, they added that they were in full tax legal compliance.
"The officials from the Income Tax department have contacted us. We are providing them with all the required information and are extending our full co-operation. We believe we are in full compliance with all applicable tax and legal requirements," CNBC-TV18 quoted Flipkart's statement.
"As a law abiding company, we are in full compliance with the tax and legal mandates. The survey by the IT officials is currently underway and our team is extending full cooperation to the concerned authorities," said Swiggy in a statement.