DGGI Uncovers Major GST Fraud Involving Shell Companies

The Directorate General of GST Intelligence (DGGI) Bengaluru Unit has uncovered six shell companies involved in fraudulent invoicing worth Rs. 266 crore, with Rs. 48 crore claimed as fraudulent Input Tax Credit (ITC). The mastermind, a statutory auditor, has been arrested. The investigation revealed circular trading practices and inflated turnover, impacting innocent investors in listed companies. DGGI has shared findings with SEBI for further action.

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APEDA Launches First Sea Shipment of Botanical-Infused Millet Foods to New Zealand

The Agricultural and Processed Food Products Export Development Authority (APEDA) facilitated the maiden sea shipment of botanical-infused, ready-to-cook millet functional foods from Karnataka to New Zealand. This milestone underscores the expanding opportunities for India's millet-based agricultural exports, bolstered by participation in APEDA-supported international trade fairs. Source: Original Link