The GST General Directorate of Intelligence (DGGI), Nagpur, has found fraudulent transactions of Rs 290.70 million, including a bogus Input Tax Credit (ITC) of Rs 25.22 million, after searches on a private company and one person has been arrested, an official said. Monday.
According to a DGGI release, a Mumbai-based company, M / s M & M Advisors and Consultants Private Limited, was searched as a follow-up to the detection of a non-existent advertising company in Dhule.
The searches revealed documents that revealed that the company was involved in the licensing of rights to film producers for broadcast on national and international channels.
“They were buying rights to movies produced by the major posters and transferring these rights under the contract system to the rights assignees, who were taking advantage of the entry tax credit. We have found fraudulent transactions of Rs 290.70 million and a false ITC of Rs 25.22 million transferred to the rights assignees, ”the statement said.
A director of the firm was arrested on December 5, an official said.
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