GST Officials Visit UpGrad Headquarters In Mumbai

UpGrad Education Pvt.'s headquarters in Mumbai were visited by officials from the Goods and Services Tax department.

"It's a routine survey, and we are fully compliant and cooperating with the GST department," Koell Hemdev, head of legal at UpGrad, told BQ Prime in a statement on Wednesday, without sharing more details.

This comes amid speculation that edtech company Byju's officials have been summoned by the Ministry of Corporate Affairs, even as a probe into its alleged failures in financial reporting and compliance is underway.

The country's edtech sector has witnessed volatility over the past year as layoffs also became commonplace. FrontRow, Byju's, and Vedantu all laid off staff over the past year as a drying up of capital led to cost-cutting measures.

UpGrad operates in the higher education segment, offering online MBAs and other executive-level courses.