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
Delhi University (DU) released the second allotment list for undergraduate admissions at 10 pm on
NMFT Conference: Amit Shah said, 'Terrorism should not be linked to any religion'
Union Home Minister Amit Shah on Friday (18 November) participated in the 3rd 'No Money for Terro
Pakistan stunned by Biden's dangerous statement, summoned the US ambassador
The neighboring country has been stunned by US President Joe Biden calling Pakistan the most dang
Apple iPhone 5G Service: 5G service has been rolled out in India. Airtel and Jio companies have l
For scientists, the universe remains a mystery. The closer scientists try to get closer to it, th
BCCI announces replacement of Jasprit Bumrah, Mohammed Shami will play T20 World Cup
The Board of Control for Cricket in India (BCCI) has announced the replacement of fast bowler Jas
External Affairs Minister S. Jaishankar has questioned the US sanctioning $450 million (Rs 3,651
Moving Train, Stunts and Death: The price of reel and fame paid with life
A young man lost his life while performing stunts on a train in Ludhiana, Punjab. The video of th
India now among top five countries in Climate Change Performance Index
The efforts being made by the Government of India in the direction of finding a solution to clima
Indian-origin Aruna Miller has created history in America. Aruna has won the election of lieutena
