Two big companies of the country are to be found for doing concerning with GST
The latest and big news on the niche of theft of GST has come in front of us that two big companies in our country are disturbing with GST law. These companies are not obeying the GST law. The tax investigating department’s current process of investigating complete details related to the is going on. This big news has been received and investigating teams are Money control and The income tax department. The two main companies which come under this radar are Larsen & Toubro and G Group.
Right now the case of GST theft is hot. The name of massive companies in the country is beginning during this game. However, this has not been confirmed yet. The Investigative Wing of the tax department is investigating the GST evasion case against Larsen & Toubro and G Group. consistent with the report published in Money Control, the tax department has received information from the GST department to require advantage of input decrease from L&T. then, IT department officials have reached the company’s Mumbai stationary headquarters for investigation.
According to the knowledge, the Zee Group is additionally suspected of taking advantage of input decrease on the idea of faux invoices. In such a situation, the IT department is additionally investigating this matter separately. IT department officials have reached the company’s office and asked some questions. A spokesperson for Zee Group has also confirmed this. He said that the concerned authorities are fully cooperating with the tax officers during this matter.
Continuous action on GST theft
In the recent past, the govt has taken major action against those that steal the products and Services Tax (GST). On the idea of knowledge and knowledge received from various agencies, the govt took action against 7,000 entrepreneurs, during which 187 are arrested, as a part of a strict campaign against those that steal GST. Giving this information, Finance Secretary Ajay Bhushan Pandey said that the collection of the govt has improved rapidly thanks to this campaign.
Record GST Collection in December
The government received a GST of Rs 1.15 lakh crore in December 2020. This amount is that the highest GST ever achieved in anybody month. For this, the action being taken against tax evaders and therefore the improvement within the economy is being considered because of the main reason.