
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
Sawan 2023: Sawan month is starting on the 4th of July. This year the month of Sawan will be spec
Pakistan is passing through the worst phase ever. Flour prices have been skyrocketing in the coun
Delhi Police and Central Security Forces have made foolproof security arrangements for the foreig
After resigning from the post of Chief Minister of Delhi, today Aam Aadmi Party (AAP) National Co
The negligence of the police administration is coming to the fore in the death due to spurious li
A huge crowd of Kanwariyas has gathered at Haridwar Har Ki Pauri. Devotees of Bholenath took a ba
Saudi Arabia's King Salman bin Abdulaziz has made 37-year-old Crown Prince Mohammed bin Salman (M
When IPL 2025 was stopped, the Lucknow Super Giants team was relieved that they had all the playe
E-Waste Management As the dependence on electronic and digital services has increased in our ever
Two of India's biggest business houses, the Adani Group and Reliance Industries (RIL), are in the