Raid: GST evasion of 824 crores by insurance companies, searches on the premises of 15 companies, intermediaries, and banks

Posted on 30th Sep 2022 12:26 pm by rohit kumar

GST officials have caught tax evasion of Rs 824 crore by 15 insurance companies, intermediaries, and banks. They were evading tax by issuing fake challans. Based on confidential information, GST Intelligence Officers of Mumbai Zone conducted searches at the premises of insurance companies, intermediary entities/branding companies, and Non-Banking Financial Companies (NBFCs) in several cities.



During searches, it was found that these companies had availed of Input Tax Credit (ITC) without supplying goods or services under the guise of marketing services, officials said on Thursday. Along with this, they were also making fake challans in collusion with each other.



Several other cases were also detected during the search. These companies have so far paid only Rs 217 crore in tax. The investigation is going on in the matter.


Also Read: Ganga Expressway: Adani Group gets financial closure for 'Ganga Expressway Nirman', know details

1 Like 0 Dislike
Previous news Next news
Other news

Gujarat Election: Owaisi will benefit BJP on Muslim majority seats! The figures of the last elections will surprise

Muslims constitute 9.67 percent of the population in Gujarat. The share of Muslim voters is 15 pe

IMF: IMF advised countries to save foreign exchange reserves, said- they should be used judiciously

The IMF has urged countries to preserve vital foreign reserves amid the strengthening of the US d

Chinese National Arrested: Chinese woman in Buddhist monk's costume arrested, a shocking secret revealed in interrogation

Chinese National Arrested: A case of arrest of a Chinese female citizen has come to light in the

Syria shaken by Israel's missile attack, rapid attacks targeting the international airport

The Israeli army fired missiles at the Syrian capital's international airport on Monday morning a

Delhi Liquor Case: CBI filed charge sheet in Delhi Excise Policy case, Manish Sisodia is not named

The CBI filed the charge sheet on Friday, November 25, 2022, in the Delhi liquor scam case. This

26/11 Attack: Terrorist Mir interrogated, Pakistan is not giving permission to America, China's protection

Pakistan has China's open support for terrorism. For this reason, he puts a stop to the inclusion

World Cup 2023, 44 Days Left: Yuvraj Singh, the hero of the 2011 WC, did not leave the team even after being unwell

India won the trophy in the 2011 ODI World Cup by defeating Sri Lanka in the final. This tourname

If there was a nuclear war between Russia and America, how many lakh people would have died in the first hour? Scientists warn

The ongoing war between Ukraine and Russia has completed 7 months. In these 7 months, the Russian

PAK government in trouble: SC refuses to stop Imran's long march; Khan said - join the jihad with me, the country

Former Pakistan Prime Minister Imran Khan is going to take out a long march from Friday. Imran ha

Ukraine: Missile attacks on many cities of Ukraine, killing hundreds, President Zelensky confirmed

Loud explosions accompanied by the sound of missiles have been heard in many cities, including Uk

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS

Play Free Quiz and Win Cash