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

Other news

Apple: Apple gave a blow to China, the effect of the policies of the Indian government to attract foreign companies was visible

The giant American company Apple has given another blow to China. Another of its suppliers, Pegat

Refusal to increase the age of marriage of girls to 21 years: Supreme Court said- it is the work of the Parliament to decide, we alone are not the guardians of the Constitution

The Supreme Court on Monday dismissed advocate Ashwini Upadhyay's plea seeking equal age of marri

Ceasefire: 'If there was a discussion with Trump, then the government will have to tell', DMK leader sought clarification from the central government

As India and Pakistan move towards a ceasefire, senior DMK leader TKS Elangovan has welcomed the

IND vs ENG 2nd Test: Ben Stokes clashed with the umpire over Yashasvi Jaiswal's wicket, and there was a heated argument in the middle of the field

On the third day of the Edgbaston Test, England captain Ben Stokes had a heated argument with the

Amit Shah: Home Minister Amit Shah said - PoK is a part of India, the Hindus there are ours, and the Muslims too.

Union Home Minister Amit Shah once again mentioned Pakistan Occupied Kashmir (PoK) before the Lok

Nuh Violence: America issued a statement regarding Nuh violence, said- all parties should avoid violence, maintain peace

The fire of violence that broke out after the attack on a procession in Nuh spread across South H

Virat Kohli Century IND vs NZ: Virat Kohli created a new history in ODI cricket, and broke Sachin Tendulkar's great record.

Virat Kohli 50th Hundred IND vs NZ Semi-Final: Virat Kohli created a new history by breaking the

Flipkart Big Billion Sale: The starting price of the iPhone 14 will be less than Rs 50 thousand, this will be a great opportunity to buy with savings of thousands.

Apple has launched the iPhone 15 series for its users. However, the craze of users regarding the

IND vs AUS 3rd ODI: The Indian team will go into the third ODI with this playing 11! this player can be out

IND vs AUS 3rd ODI Predicted Playing XI Team India. Today the third and final ODI between India a

RR vs SRH: Samad won Hyderabad by hitting a six on the last ball, Sandeep's no-ball was heavy, and Rajasthan's sixth defeat

Sunrisers Hyderabad kept their hopes of reaching the playoffs alive by defeating Rajasthan Royals