
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
The final preparations for the Prayagraj Mahakumbh to be held in Uttar Pradesh are in full swing.
Due to Delhi turning into a gas chamber, the air here has become dangerous for health. Due to thi
Delhi Capitals spinner Akshar Patel believes that the introduction of the Impact Player rule in t
Sergio Busquets: Sergio Busquets joins former teammate Messi at Inter Miami club, left Barcelona
Sergio Busquets is joining his former Barcelona teammate Lionel Messi at Inter Miami, the team's
PS 2: Stars arrive at Ponniyin Selvan 2's success party, celebrate by cutting cake
Director Mani Ratnam's film Ponniyin Selvan 2 is in discussion these days. The film created a sti
During India vs Zimbabwe match, an Indian fan was forced to enter the field. He will now have to
PM Modi: Tahawwur Rana was on PM Modi's target since 2011, now a 14-year-old tweet is going viral
After the extradition of Tahawwur Rana to India, an old tweet of Prime Minister Modi from the yea
CAA: 'CAA will never go back...', Amit Shah said in the interview - We will not compromise on this
Union Home Minister Amit Shah has clearly said in an interview that the CAA law will never be wit
The command of G-20 has come into the hands of India. This responsibility will remain with India
Before the first phase of voting in Gujarat on December 1, Union Home Minister Amit Shah strongly