Reetu | Dec 7, 2023 |

DRI imposed penalty of Rs. 34 Crore on Firm for Tax Evasion

The State Directorate of Revenue Intelligence (APSDRI) fined M/s Fastlane Information Technologies Private Limited 34.01 crore for tax evasion. Fastlane was one of the Tera software companies accused of misappropriating funds in the Fibernet case.

According to APSDRI, Fastlane collected GST from Tera software but did not deposit it with the government.

Recently in the Rajya Sabha session, Finance Minister Nirmala Sitharaman stated that GST officers have identified 21,791 fake GST registrations and detected over Rs 24,000 crore of suspected tax evasion during a special drive.

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Tags: DRI, Fine, Goods And Services Tax, GST, GST Evasion, News, Penalty, Tax Evasion

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Name: Reetu

Designation: Content Manager

Company: Studycafe

Location: Delhi, India

Total Posts: 8126

Reetu is a Content Writer with 4+ years of experience in GST, Income Tax, Finance, Company Law, Education and Career Related Content. She is a B.COM (Honrs.) Graduate.

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