Quick Summary
The Mumbai branch of the Directorate General of Goods and Services Tax (GST) Intelligence has detected tax evasion of ₹824 crore by 15 insurance companies, intermediary marketing companies and multiple non-banking finance companies. These companies allegedly availed input tax credit (ITC) without
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Broadcasts
- Daily E-Newsletter
- Unlimited News Access
BEST VALUE
2 YEAR PLAN
3,499
(Inclusive of GST)
1 YEAR PLAN
1,999
(Inclusive of GST)
View all CCI PRO benfits
Already a PRO member? Login here for an ad-free experience.
FAQ :
The total value of the Goods and Services Tax (GST) fraud detected is ₹824 crore.
The fraud involves 15 insurance companies, intermediary marketing companies, and multiple non-banking finance companies.
They allegedly availed input tax credit (ITC) without the actual supply of goods or services, by raising fraudulent invoices for marketing services in connivance with each other.
The Mumbai branch of the Directorate General of Goods and Services Tax (GST) Intelligence detected the fraud.
Yes, an investigation into the matter is currently underway.
CAclubindia
