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
Corona is once again seen growing rapidly globally. Studies show that there is a continuous mutat
Sidharth Malhotra has returned to theaters after a long time. The actor is entertaining fans on t
After Ranveer Allahabadia's objectionable statement on stand-up comedian Samay Raina's show 'Indi
There is anger across the country even today over the horrific incident that happened with the fe
On Saturday, the Punjab Police took Waris Punjab De chief Amritpal Singh into custody along with
Just a day before anti-government protests in Iran, around 1200 students of the country's largest
The continuous rain in the monsoon has broken the record of the last five years. After the year 2
Like all tech companies, now Google's parent company Alphabet has also planned to lay off 10,000
The Indian team made a strong start against Bangladesh, with the opening pair of Abhishek Sharma
All the central unions including farmer organizations have called for Bharat Bandh across the cou
