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

Test heartbeat, oxygen, and stress level in just 15 seconds with this newly launched watch, which cost less than 4 thousand

Amazon Deal On Smart Watch: If you want to buy a smartwatch that gives complete data on your fitn

BAN vs NZ Test: Bangladesh beats New Zealand at home for the first time in 23 years, second win over Kiwis in two years

New Zealand is currently on a tour of Bangladesh. A two-Test series is being played between the t

US Law: Student visa may be canceled if you leave your studies midway; Embassy warns international students

The US Embassy in India on Tuesday warned international students studying in the US that their st

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

Coronavirus In India: 'Cancel Bharat Jodo Yatra' in the interest of the country, Health Minister advises Rahul Gandhi

Because of the increasing cases of coronavirus worldwide, now the central government has also inc

Andhra Pradesh: Chandrababu Naidu will take oath as CM of Andhra Pradesh on June 12, earlier the program was on June 9

The date of the oath-taking ceremony of Telugu Desam Party chief Chandrababu Naidu as the Chief M

Bihar Election Results 2025: 'The contest is between the public and Gyanesh Kumar,' Congress said on the Bihar election results.

With the release of the Bihar Assembly Election 2025 trends, accusations have already begun. Cong

Riots in France after defeating Argentina: Thousands of fans turned violent in many cities, broke vehicles, set arson; also clashed with the police

France's fans went berserk after their defeat to Argentina in the Football World Cup final. Thous

DC vs LSG: Rajasthan Royals bat after Delhi Capitals' victory, Sanju Samson's Pink Army gets ticket for playoffs

In the 64th match of IPL 2024, Delhi Capitals defeated Lucknow Super Giants by 19 runs. Rajasthan

Uttarakhand Cloudburst: One woman died in Rudraprayag, cloudburst also caused devastation in Chamoli, Tehri, and many people are missing

Incidents of cloudburst have been reported at different places in Uttarakhand. A woman died after

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