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

Jammu Kashmir: MLAs clashed outside the assembly, a scuffle took place; huge uproar in the House over the Waqf law

There is a ruckus in the Jammu and Kashmir Assembly on the third day over the Waqf Act. National

Sun Breaks: Scientists made a shocking claim, a large part of the sun broke apart

Scientists have made a shocking claim about the sun. Scientists have said that a large part of th

India again at the forefront of internet ban: Shutdown was done 84 times in 2022, 49 times only in Jammu and Kashmir; Shut down 187 times worldwide

India has been at the forefront of Internet shutdowns in the world for the fifth consecutive year

India Vs West Indies: Why the ODI series against West Indies was of no use for the Indian team? These are the 3 main reasons

The Indian team won the series 2-1 by defeating the West Indies by 200 runs in the third ODI in T

WPL 2024: Mumbai team flies under the storm of Ellyse Perry, RCB star creates history by taking 6 wickets in WPL

RCB's star all-rounder Ellyse Perry created history in the Women's Premier League 2024 (WPL 2024)

IPL 2024: Sunrisers removed Markram, who won SA20, from captaincy, and handed over the responsibility to Cummins worth Rs 20.5 crore.

Changes continue in IPL 2024. After Mumbai Indians suddenly removed Rohit Sharma from the captain

India-US Relations: US Finance Minister Janet Yellen said Critical is the relationship between America and India

The relations between India and America have seen many ups and downs in the last month. Amidst al

Ghaziabad News: Accident while making reels on railway track, three including girl died after being hit by train

A girl and two youths who were making reels while standing on the railway track near the Kallu Ga

'Don't force us', Supreme Court furious over rising pollution in Delhi-NCR, scolded Haryana-Punjab

On Wednesday (23 October 2024), the Supreme Court heard the case of rising pollution in Delhi-NCR

World Cup: Khalistanis kept the code name of World Cup as WTC, this conspiracy was hatched in Afghanistan-Bangladesh match

Khalistani terrorists have made a strategy for dangerous plans in the Cricket World Cup. During t

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