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

Baba Siddique Murder Case: 'It is very difficult to believe that Baba is no more, the culprits should be punished', said Madhur Bhandarkar

Nationalist Congress Party (NCP) leader Baba Siddiqui was shot dead in Mumbai on Saturday night.

Covid-19 in India: 2 people died in two days in the country; Active patients increased rapidly in these states including Maharashtra

Corona cases have started increasing once again in the country. After Kerala, Karnataka, now ther

World Cup 2023: 'Pakistan's defeat against India was encouraged by Pakistan', chief batsman made a big disclosure

Pakistan defeated Bangladesh by 7 wickets in the 30th match of World Cup 2023 on Tuesday. With th

Jio Bharat V2: Jio launched a 4G phone for Rs 999, only Rs 123 plan came with it

Reliance Jio has launched the 4G phone 'Jio Bharat V2'. 'Jio Bharat V2' will be available at very

PBKS vs CSK: CSK lost four consecutive matches in IPL for the fourth time, has lost the most number of times to Punjab since 2022

The 18th season of IPL has not been anything special for five-time champion Chennai Super Kings (

14.5 lakh jobs in Canada, people are not getting: Big opportunity for Indians; Permanent residency will be available with a salary

Canada is set to employ 14.5 lakh, foreigners, in the next three years. Recently, Canada's Immigr

Delhi Firecracker Fine: Buying and burning firecrackers in Delhi can be fined up to Rs 200 and imprisoned for six months- Gopal Rai

Delhi Firecrackers Fine: Arvind Kejriwal's government is alert because of air pollution in Delhi.

PM's 3 rallies costing 14 crores in Himachal: Roadways asked for payment from the government; preceded the code of conduct

Himachal Road Transport Corporation (HRTC) has an outstanding payment of Rs 14 crore for buses se

Afghan Taliban bluntly to PAK: said- will not tolerate attack on our land, Pakistan should stop making false allegations

After the border dispute between Pakistan and Afghanistan, now tension has also increased regardi

IPL vs PSL: PCB Chief Najam Sethi told PSL better than IPL, compared with digital rating, know

The eighth season of Pakistan Super League came to an end on Saturday. Lahore Qalandars won the l

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