GST body finds more instances of tax fraud at fintech firm BharatPe

Bharatpe, In October 2021, had accepted it had issued invoices to non-existent vendors and paid about Rs 11 crore, in dues and penalty, to the tax department

The Directorate General of Goods and Services Tax Intelligence (DGGI) has found instances of fraud at BharatPe, and the tax probe body has recovered Rs 12.5 crore so far from the fintech firm, a person aware of the development said.
 
The fintech firm — at the centre of corporate governance lapses — has agreed to having issued more invoices to non-existent vendors, and has additionally deposited Rs 1.5 crore with the tax authorities. Earlier, BharatPe had agreed that the fintech firm had issued invoices to non-existent vendors, and deposited about Rs 11 crore to the tax department.
 
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