Write News

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.

Did you know?Explore Trending and Topic pages for more stories like this.

 

 

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 0

Tweet

Other news

Lok Sabha Election Results: Rahul Gandhi's first reaction on Smriti Irani's defeat from Amethi and Kishori Lal's victory

After the commendable performance of the All India Alliance in the Lok Sabha elections, Congress

Happy Friendship Day 2023: The festival of friendship is being celebrated today, know what is the history and importance of Friendship Day

Friendship Day 2023: Friendship is the valuable wealth of a person's life. It is such a relations

NASA's third attempt to launch the Moon mission: Rocket will fly on November 16 at 11.34 am

After about a month and a half, the US space agency NASA is preparing to launch its Moon mission

Lok Sabha Phase 3 Voting: 64.58 percent voting on 93 seats in the third phase, highest voting in Assam at 81.71 percent

In the third phase of Lok Sabha elections, an average of 64.58 percent voting took place on 93 se

IND vs SL Playing-11: Rahul or Pant, who will play? First ODI against Sri Lanka today, eyes will be on Rohit-Kohli.

The Gautam Gambhir-led Indian team management will have a chance to decide who among KL Rahul and

Usman Khawaja: Usman Khawaja held a press conference with their daughter in his lap, and heart touching video went viral

Usman Khawaja took part in the press conference after scoring a brilliant century on the second d

UN can mediate: Peace talks between Russia and Ukraine can be held in February

Ukraine's Foreign Minister Dmytro Kuleba said the government could hold a peace summit at the Uni

Parliament Security Breach: Police reached the house of the mastermind of the Parliament ruckus, mother said - Lalit's marriage was fixed.

Darbhanga's Bahera police station once again reached the house of Lalit Jha, accused in the Parli

SL vs AFG 3rd T20I: Sri Lankan team failed to clean sweep, Afghanistan saved its shame by winning the last T20 match

The deciding match of the three-match T20I series between Sri Lanka vs Afghanistan (SL vs AFG 3rd

Arunachal Pradesh: Home Minister Amit Shah's visit to China border will be special, know what will be the 'day-plan'

Union Home Minister Amit Shah will be on a tour of Arunachal Pradesh on Monday. During this, he w