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
Jack Ryan Season 4 Review: The spy web series Jack Ryan (Tom Clancy's Jack Ryan), which started i
Nepal Earthquake: People in panic due to the earthquake in Nepal, one woman died due to a landslide
Nepal Earthquake: Last Tuesday (September 3), there was an earthquake in Nepal whose intensity wa
Shimla Masjid Case: The dispute over Sanjauli Masjid in Shimla, the capital of Himachal Pradesh,
Prime Minister Narendra Modi has left for Russia. Special pictures emerged from Kazan before the
Union Minister Kiren Rijiju on Tuesday targeted Bengal Chief Minister Mamata Banerjee for refusin
Scheduled Caste (SC) and Scheduled Tribe (ST) voters will play an important role in dec
The Indian team will be selected for the World Cup on Tuesday (September 5). It is believed that
Earthquake tremors were felt in Amritsar and other parts of Punjab on Monday morning. According t
An FIR has been registered against the school management in the case of alleged harras assault of
If the weather is favorable, the Delhi government may conduct its first test of artificial rain o
