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
In today's digital-first world, smartphones have evolved far beyond communication devices—t
For the last 15 months, Israel and Hamas agreed to stop the conflict going on in the Gaza Strip.
The Supreme Court has dismissed a petition filed by the Tamil Nadu government against the march o
Prime Minister Narendra Modi will inaugurate the country's first underwater metro in Kolkata toda
In the second T20 against the West Indies, the Indian team faced a two-wicket defeat in a thrilli
Paatal Lok is one of the most loved crime thriller web series on Amazon Prime Video. The second p
The Mumbai Crime Branch has now made significant revelations regarding the shooting incident at t
Chinese smartphone maker Vivo has launched its new smartphone series, Vivo T2 5G, in India. This
After the four phases of election campaigning have ended, the excitement for the last three phase
BCCI Secretary Jay Shah has confirmed that BCCI has not approached any Australian cricketer
