The Finance Ministry on Monday informed Parliament that the Directorate of Revenue Intelligence (DRI) has concluded its investigations into the imports of Power Generation, Power Transmission, and Infrastructure (Port & SEZ) equipment by Adani Group companies. The DRI has submitted its report to the relevant judicial authorities, it informed.
However, the investigation into the imports of Indonesian coal by Adani Group companies is still ongoing. The DRI has not yet reached a final conclusion, as the authorities have sought information from exporting countries through Letters Rogatory.
Additionally, the Finance Ministry has also informed Parliament that the Central Board of Indirect Taxes and Customs (CBIC) field formations have booked 106 cases of evasion of indirect taxes (GST and Service Tax) against various insurance companies.
The amount of fraud reported is 7,581.8 crores, of which 1,347 crores have been recovered. The cases involve evasion of Service Tax, non-payment/short payment of GST under the reverse charge mechanism, and ineligible Input Tax Credit.
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