India News | MP: CGST Found Two Companies Claimed Input Tax Credit Worth Rs 4.5 Cr in Violation of Rules
Get latest articles and stories on India at LatestLY. The Central Goods and Services Tax (CGST) has detected the role of two companies in availing of the input tax credit worth Rs 4.5 crore though they are not eligible to do so, an Indore unit official said on Tuesday.
Indore, Sep 6 (PTI) The Central Goods and Services Tax (CGST) has detected the role of two companies in availing of the input tax credit worth Rs 4.5 crore though they are not eligible to do so, an Indore unit official said on Tuesday.
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An agriculture firm has claimed an input tax credit of Rs 3.1 crore on GST-free products and while filing the tax returns it didn't pay the portion of profit to the exchequer, CGST Indore unit's commissioner Atul Saxena said.
In another case, an Information Technology company has availed of an input tax credit worth Rs 1.43 crore on the payments of Employees State Insurance (ESI) premium in contravention of rules as such a benefit cannot be availed of on insurance services.
The CGST department has recovered Rs 3.55 crore and further scrutiny of documents is underway.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)