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
CGBSE 10th, 12th Result 2023: Chhattisgarh Board is an important update for the candidates waitin
Salman Khan, famous as the Dabangg hero in Bollywood, has been forced to live under heavy securit
The Indian Army, under Operation Sindoor, carried out a precise attack in just 25 minutes and des
Actor Vicky Kaushal starrer 'Chhaava' is in theatres and is earning a lot even after a month. On
The dean of Pune's Sassoon Hospital in Maharashtra has made a big claim. He has alleged political
Salman Khan has taken a break from hosting "Bigg Boss 19" and embarked on the Dabangg Tour. Rohit
Amidst the controversy over Waqf properties and the demand to control the rights of the Waqf Boar
So far 128 people have died and hundreds have been injured due to the massive earthquake in weste
The truth cannot be hidden for long. No matter how much Turkey and China, which are facing allega
After the violence on July 31, the administration is working day and night to bring the situation
