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

Earthquake: Entire North India including Delhi NCR shaken by the earthquake, people came out of their homes with children in their arms.

Earthquake tremors are being felt frequently in India. At the same time, once again a strong eart

Apple WWDC 2023: From lock screen upgrade to Journal app, these powerful features found in iOS 17

Apple's Worldwide Developers Conference (WWDC) 2023 has begun. Let us know that its keynote is be

Hunger, poverty, and old age... these 5 big challenges before the world of 8 billion; what a serious crisis

The population of humans in the world has now crossed 8 billion. In 1950, the number of human bei

Punjab declared a disaster-affected state, lakhs of acres of agriculture destroyed; more than 1400 villages in the grip of floods

Bhagwant Mann's government of Punjab has declared the entire state as a disaster affected state.

Ayodhya Ram Mandir: Ram Mandir will be completely ready after nine months, Ram Darbar will be installed on the first floor by July

Ram Mandir Nirman Samiti chairman Nripendra Mishra reviewed the construction work of the temple o

PM Modi In Varanasi: GI tag... From the development of Purvanchal to free treatment; Highlights of PM Modi's speech.

Prime Minister Narendra Modi reached Kashi on Friday. He reached the public meeting place at Mehd

Corona Alert: The risk of coronavirus is increasing in the country; 750 new cases have been reported in the last week, and the figure in Delhi is close to 100

Corona cases are increasing in the country. In the last week, 752 new cases of corona have been r

Jehanabad Stampede: Why did the stampede happen in Siddheshwar Nath temple? Eyewitness told the truth; and also blamed the police

Seven devotees died in a stampede at Siddheshwar Nath Temple (Stampede in Siddheshwar Nath Temple

IND vs ENG: Ashwin will create history in Dharamshala, will play 100th test match, will join the club of Sachin-Virat

Ravichandran Ashwin is ready to create history in the last match of the India vs England series.

FIFA World Cup 2022: Beer will not be available near the stadium during World Cup, Qatar changes liquor policy

FIFA World Cup 2022 Qatar: FIFA World Cup 2022 is starting in Qatar on Sunday, but now Qatar has

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