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
We will marry Rishabh Pant after T20 World Cup, fans troll Urvashi Rautela again
Team India's wicketkeeper-batsman Rishabh Pant is in a lot of discussions these days, not for his
Bengaluru: "Haye Rey Bengaluru traffic", loss of Rs 19,725 crore every year; claim in the study
Rs 19,725 crore is being lost every year due to traffic in Bengaluru alone. This is not us but it
Bikharam Bishnoi, accused of threatening to kill Bollywood superstar Salman Khan and demanding a
India successfully test-fired Agni Prime New Generation Ballistic Missile off the coast of Odisha
Suddenly, the police force arrived in front of the Uttar Pradesh Public Service Commission at 8:0
The Maharashtra Administrative Tribunal had directed the government to make a provision for trans
The Congress lashed out at the Bharatiya Janata Party for maintaining silence on the issue of Chi
Star, the official broadcaster of the T20 World Cup in India, has run an ad campaign ... a lot of
It is becoming difficult for the Union Ministry of Road Transport and Highways to achieve the tar
GT vs KKR: Enjoy the Gujarat vs KKR match without spending a single rupee; Know the complete details
Gujarat Titans (GT) will face Kolkata Knight Riders (KKR) in the 63rd match of IPL 2024. An