Updated Jan 14, 2021 | 17:08 IST
The alleged tax evasion by Flipkart group company Instakart amounts to Rs 650 crore while the rest of Rs 300 crore is attributed to Swiggy I-T dept alleges Rs 950 cr tax evasion by Flipkart firm, Swiggy | Photo Credit: IANS
Key Highlights
Third party vendors may also be involved in the tax concealment amounting to Rs 950 crore, alleged I-T dept
DGCI led surveys over alleged wrongful tax credit under GST led to discovery of other irregularities
Both Swiggy, Flipkart denied wrongdoing adding they fully cooperated with authorities during surveys
Bengaluru: The Income Tax (I-T) department has uncovered massive tax evasion by flood aggregator Swiggy and Instakart, a group company of Walmart-owned Flipkart.
Updated Jan 09, 2021 | 10:56 IST
The ongoing surveys seek to ascertain the veracity of payments made by the companies to two vendors- Merlin Facilities Pvt Ltd and Surya Team Management, that had supplied staff to the companies Did Swiggy, Instakart indulge in ‘fake’ GST invoice scam? I-T dept thinks so, says report | Photo Credit: PTI
Key Highlights
Flipkart’s CFO and tax head filed for anticipatory bails on January 7 in the ongoing investigation by the DGCI
Investigations pertain to alleged fake GST ITC claims made in connivance with fake entities
Both Swiggy and Flipkart denied all allegations of wrongdoing
New Delhi: Food aggregator Swiggy and a Flipkart group company, Instakart, are reportedly under the lens of the Income tax department for alleged concealment of income at the two firms.