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

Kalki 2898 AD: Big update on Kalki 2898 AD, the producers can give this big gift before the release of the film

Kalki 2898 AD directed by Nag Ashwin is one of the most awaited films of this year. Audiences in

Delhi Election 2025: Kejriwal put an end to speculations of AAP-Congress alliance, said- will fight elections alone

Arvind Kejriwal has put an end to the news of the alliance between the Aam Aadmi Party and Congre

Saudi Arabia can give $ 5 billion help to Pakistan, which is facing an economic crisis, Crown Prince announced

Pakistan is facing a financial crisis. Pakistan, which is struggling with the condition of povert

IndiGo cancels 300 flights across the country today, passengers queue up at airports from Delhi-Mumbai to Hyderabad; read the reason

Air travellers faced significant difficulties on Thursday. More than 300 IndiGo flights were canc

'These people with a Jihadi mindset...' Abhinav Kashyap makes a big statement on Salman Khan's family, calling Arbaaz a 'donkey thief'

Salman Khan and his family are once again embroiled in controversy, thanks to a major statement b

Supreme Court: Will the petitions against the abrogation of Article 370 be listed or not? SC ready to consider

The Supreme Court on Wednesday said it will consider an early listing of petitions challenging th

Pankaj Udhas: 'Will always be alive in our hearts...' Shatrughan Sinha expressed grief over the demise of Pankaj Udhas

Pankaj Udhas Passes Away: Famous ghazal singer Pankaj Udhas passed away on Monday 26 February. He

G20: Pakistan stunned by India-Saudi Arabia agreement in G20, people said on social media - we are ashamed

The G20 summit successfully held for the first time in India is being praised all over the world.

Shikhar Dhawan: 'I was blocked from everywhere...', Shikhar Dhawan became emotional on the birthday of their son Zoravar, and said this

Indian cricket team's opening batsman Shikhar Dhawan is out of the team these days. Even away fro

Recession in America: US GDP on the green mark after two consecutive quarters of decline, no recession at the moment

Real Gross Domestic Product (GDP) in the US is back in the positive zone after two consecutive qu

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